On the ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan on the Restructuring of the State Loan provided to the Government of the Republic of Tajikistan by the Government of the Republic of Kazakhstan
Law of the Republic of Kazakhstan dated December 2, 2002 No. 359
To ratify the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan on the Restructuring of the State Loan provided to the Government of the Republic of Tajikistan by the Government of the Republic of Kazakhstan, signed in Almaty on April 8, 2002.
President of the Republic of Kazakhstan
Agreement between the Government of the Republic of Kazakhstan and the Government of of the Republic of Tajikistan on the restructuring of the state loan provided to the Government of the Republic of Tajikistan by the Government of the Republic of Kazakhstan
(Official website of the Ministry of Foreign Affairs of the Republic of Kazakhstan - Effective 08/20/2004)
The Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan, hereinafter referred to as the Parties, share the efforts of the people of the Republic of Tajikistan to implement the Economic Reform Program supported by the Government of the Republic of Kazakhstan, the International Monetary Fund, the World Bank and the international community as a whole; - Recognizing the need for an early settlement of the Tajik Side's debt problem on the state loan provided to it by the Kazakh Side in accordance with the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan on the conversion of technical loan debt based on the results of 1992 and January-August 1993 into a state loan to the Government of the Republic of Tajikistan dated August 26, 1993 (hereinafter referred to as - Agreement dated August 26, 1993) and the Agreement between the Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan on the terms of reorganization of the debt Obligations of the Republic of Tajikistan to the Republic of Kazakhstan dated November 22, 1995 (hereinafter referred to as the Agreement dated November 22, 1995), agreed as follows:
Article 1
The Parties agree to restructure the state loan provided to the Tajik Side in accordance with the Agreement dated August 26, 1993, as well as in accordance with the Agreement dated November 22, 1995, taking into account the debt of the Republic of Kazakhstan to the Republic of Tajikistan in accordance with the Act of Final Reconciliation of Settlements between banks of the Republic of Kazakhstan and the Republic of Tajikistan for 1992 before opening correspondent accounts from December 3, 1997.
Article 2
2.1. The Parties agreed that the amount of the restructured loan provided by the Government of the Republic of Kazakhstan to the Government of the Republic of Tajikistan is 12,136,645-80 (twelve million one hundred thirty-six thousand six hundred forty-five-80) US dollars. This amount is determined by excluding from the amount of 18,286,092.00 (eighteen million two hundred eighty-six thousand ninety-two) US dollars in accordance with article 2 of the Agreement of November 22, 1995, the amount of 728.8 million rubles (seven hundred twenty-eight million eight hundred thousand rubles), equivalent at the weighted average exchange rate of 2,751,434.60 (two million seven hundred fifty one thousand four hundred and thirty-four (60) US dollars, according to article 7 of the Agreement of August 26, 1993, as well as the amount of 900,065,319 rubles 78 kopecks (nine hundred million sixty-five thousand three hundred nineteen rubles seventy-eight kopecks), equivalent to 3,398,011-60 (three million three hundred ninety-eight thousand eleven-60) US dollars, according to the Act of Final Reconciliation of settlements between banks of the Republic of Kazakhstan and the Republic of Tajikistan for the year 1992 before the opening correspondent accounts dated December 3, 1997. According to the terms of the state loan provided to the Republic of Tajikistan, which is being restructured on terms common to all creditor countries, offered by the International Monetary Fund to the Republic of Tajikistan, the Tajik Side undertakes to pay the amount of accrued interest payments for 2001 in the amount of 344,545-89 (three hundred) percent per annum to the Kazakh Side by June 30, 2002. forty-four thousand five hundred forty-five - 89) US dollars, net of overpaid interest payments from 1997 to 2000 in the amount of 29,817-59 US dollars and payable by the Tajik Side in the amount of 314,728-30 US dollars. 2.2. The restructured loan from the Kazakh Side in the amount of 12,136,645-80 (twelve million one hundred and thirty-six thousand six hundred and forty-five-80) US dollars is considered to have been provided to the Tajik Side on January 1, 2001 for a period of 15 (fifteen) years, of which the first 5 (five) years form a grace period during which the Tajik Side makes payments, repaying the amount of interest accrued on the restructured loan.
Article 3
3.1. The Tajik Side undertakes to repay the amount of the principal debt on the restructured loan in the amount of 12,136,645-80 (twelve million one hundred thirty-six thousand six hundred forty-five - 80) US dollars in the period from January 1, 2006 to December 31, 2015. 3.2. Payments to repay the principal amount are made quarterly in equal installments in the amount of one fortieth of the amount of the restructured loan, in accordance with the annex to this Agreement. 3.3. The date of payments to repay the principal amount is determined on the 30th (thirtieth) day of the last month of each quarter. 3.4. A payment that is not made within the time period specified in paragraph 3.3 of this Article is considered an overdue payment to repay the principal amount. The Tajik Side will make the first payment to repay the principal amount on March 30, 2006. 3.5. The Tajik Side may repay the principal amount ahead of schedule in agreement with the Kazakh Side.
Article 4
4.1. The Tajik Side pays the accrued interest amounts for the use of the restructured loan in the period from January 1, 2001 to December 31, 2015. The interest payment amount is calculated at a rate of 2.8 (two point eight) percent per annum on the amount of outstanding principal debt based on the actual number of days in the calculated quarter at the rate of 360 days per year, in accordance with the annex to this Agreement. The date of payment is considered to be the date of receipt of the amount to the account of the authorized bank of the Kazakh Side. Payments to repay accrued interest are made quarterly. The date of making payments to repay the amount of accrued interest is determined on the 30th (thirtieth) day of the last month of each quarter. 4.2. A payment that is not made within the time period specified in paragraph 4.1 of this Article is considered an overdue payment to repay the interest accrued on the use of the restructured loan.
Article 5
For the amount of overdue payments in repayment of the principal debt and/or in repayment of the accrued interest, penalty interest is accrued for each day of late payments at the rate of LIBOR +4 (LIBOR plus four) percent per annum for six-month deposits in US dollars based on 360 days per year. The total penalty interest calculation period begins on the date following the date of payments of the principal debt and/or accrued interest and ends on the date of actual repayment of the debt (including the date of actual repayment). The Tajik Side pays the penalty interest accrued on the amount of overdue payments without notification from the Kazakh Side.
Article 6
Payments to repay the principal, interest and penalty debts are made by the Tajik Side in US dollars.
Article 7
7.1. If a particular payment under this Agreement coincides with a day that is not a working day of the bank in the territories of the States of the Parties, such payment is made on the following business day. 7.2. Authorized banks of the Parties, which will be determined in accordance with the supplementary Agreement, are required to: - within one month jointly develop a technical procedure for settlement and account management arising from the terms of this Agreement and formalize it in the form of an interbank agreement, - coordinate with the Ministries of Finance of their states the above-mentioned technical procedure for settlement and account management, - within 10 (ten) days from the date of the end of the reporting quarter, officially submit to the Ministry of Finance of its Party reports on the status of the Party's accounts as of the end date of the reporting quarter.
Article 8
The obligations of the Parties under this Agreement are unconditional and all payments under it will be exempt from all taxes, commissions and fees levied in the territories of the States of the Parties.
Article 9
The provisions of this Agreement do not affect the rights and obligations of the Parties arising from other international treaties to which they are parties.
Article 10
In case of disputes and disagreements in the interpretation or application of the provisions of this Agreement, the Parties will resolve them through consultations and negotiations.
Article 11
By mutual agreement of the Parties, amendments and additions may be made to this Agreement, which are formalized in separate protocols that are integral parts of this Agreement.
Article 12
This Agreement shall enter into force on the date of receipt of the last written notification that the Parties have completed the internal procedures necessary for its entry into force. This Agreement shall expire on the date of full fulfillment by the Parties of their obligations under this Agreement.
Article 13
From the date of entry into force of this Agreement, all intergovernmental agreements and the act of final reconciliation of mutual settlements between the banks of the States of the Parties for 1992 prior to the opening of correspondent accounts dated December 3, 1997, specified in Article 1 of this Agreement, as well as the rights and obligations of the Parties under these agreements and the act, shall cease to be valid and may not serve as a basis for presentation of financial or other claims by the Parties to each other.
Done in Almaty on April 8, 2002, in two original copies, each in the Kazakh, Tajik and Russian languages, all texts being equally authentic. In case of disagreement in the interpretation of the provisions of this Agreement by the Parties, the Parties will refer to the text in Russian.
For the Government For the Government of the Republic of Kazakhstan of the Republic of Tajikistan
Annex to the Agreement between the Government The Government of the Republic of Kazakhstan and the Government of the Republic of Tajikistan on the restructuring of the state loan provided to the Government Of the Republic of Tajikistan by the Government of the Republic of Kazakhstan
The amount of the restructured loan is 12,136,645.80 The beginning of repayment of interest on March 31, 2001 The last date of repayment of interest on December 31, 2015 The beginning of repayment of the principal amount on March 31, 2006 The last date of repayment of the principal amount on December 31, 2015 The interest rate is 2.8 Grace period 5 Repayment of debt (including grace period) 15 Number of payments 4
in US dollars ------------------------------------------------------------- Date ! The main one ! Payment ! Payment ! Shared ! the amount !The main one ! percentages ! the amount ! duty ! the amount ! ! payments ! ! duty ! ! ------------------------------------------------------------- March 31, 2001 12136645.80 0.00 84956.52 84956.52
June 30, 2001 12136645.80 0.00 85900.48 85900.48
September 30, 2001 12136645.80 0.00 86844.44 86844.44
December 31, 2001 12136645.80 0.00 86844.44 86844.44
March 31, 2002 12136645.80 0.00 84956.52 84956.52
June 30, 2002 12136645.80 0.00 85900.48 85900.48
September 30, 2002 12136645.80 0.00 86844.44 86844.44
December 31, 2002 12136645.80 0.00 86844.44 86844.44
March 31, 2003 12136645.80 0.00 84956.52 84956.52
June 30, 2003 12136645.80 0.00 85900.48 85900.48
September 30, 2003 12136645.80 0.00 86844.44 86844.44
December 31, 2003 12136645.80 0.00 86844.44 86844.44
March 31, 2004 12136645.80 0.00 85900.48 85900.48
June 30, 2004 12136645.80 0.00 85900.48 85900.48
September 30, 2004 12136645.80 0.00 86844.44 86844.44
December 31, 2004 12136645.80 0.00 86844.44 86844.44
March 31, 2005 12136645.80 0.00 84956.52 84956.52
June 30, 2005 12136645.80 0.00 85900.48 85900.48
September 30, 2005 12136645.80 0.00 86844.44 86844.44
December 31, 2005 12136645.80 0.00 86844.44 86844.44
March 31, 2006 12136645.80 303416.15 84956.52 388372.67
June 30, 2006 11833229.66 303416.15 83752.97 387169.11
September 30, 2006 11529813.51 303416.15 82502.22 385918.37
December 31, 2006 11226397.37 303416.15 80331.11 383747.26
March 31, 2007 10922981,22 303416,15 76460,87 379877,01
June 30, 2007 10619565.08 303416.15 75162.92 378579.07
September 30, 2007 10316148.93 303416.15 73817.78 377233.92
December 31, 2007 10012732.79 303416.15 71646.67 375062.81
March 31, 2008 9709316.64 303416.15 68720.39 372136.53
June 30, 2008 9405900.50 303416.15 66572.87 369989.02
September 30, 2008 9102484.35 303416.15 65133.33 368549.48
December 31, 2008 8799068.21 303416.15 62962.22 366378.37
March 31, 2009 8495652.06 303416.15 59469.56 362885.71
June 30, 2009 8192235.92 303416.15 57982.83 361398.97
September 30, 2009 7888819.77 303416.15 56448.89 359865.03
December 31, 2009 7585403.63 303416.15 54277.78 357693.92
March 31, 2010 7281987.48 303416.15 50973.91 354390.06
June 30, 2010 6978571.34 303416.15 49392.78 352808.92
September 30, 2010 6675155.19 303416.15 47764.44 351180.59
December 31, 2010 6371739.05 303416.15 45593.33 349009.48
March 31, 2011 6068322.90 303416.15 42478.26 345894.41
June 30, 2011 5764906.76 303416.15 40802.73 344218.87
September 30, 2011 5461490.61 303416.15 39080.00 342496.14
December 31, 2011 515,8074.47 303416.15 36908.89 340325.03
March 31, 2012 4854658.32 303416.15 34360.19 337776.34
June 30, 2012 4551242.18 303416.15 32212.68 335628.83
September 30, 2012 4247826.03 303416.15 30395.56 333811.70
December 31, 2012 3944409.89 303416.15 28224.44 331640.59
March 31, 2013 3640993. 74 303416.15 25486.96 328903.10
June 30, 2013 3337577.60 303416.15 23622.63 327038.78
September 30, 2013 3034161.45 303416.15 21711.11 325127.26
December 31, 2013 2730745,31 303416,15 19540,00 322956,14
March 31, 2014 2427329.16 303416.15 16991.30 320407.45
June 30, 2014 2123913.02 303416.15 15032.58 318448.73
September 30, 2014 1820496.87 303416.15 13026.67 316442.81
December 31, 2014 1517080.73 303416.15 10,855.56 314271.70
March 31, 2015 1213664.58 303416.15 8495.65 311911.80
June 30, 2015 910248.44 303416.15 6442.54 309858.68
September 30, 2015 606832.29 303416.15 4342.22 307758.37
December 31, 2015 303416,15 303416,15 2171,11 305587,26 ------------------------------------------------------------- Total 12136645.80 3489777.88 15626423.68 -------------------------------------------------------------
President
Republic of Kazakhstan
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