Middle East Economic Survey

VOL. XLVIII

No 23

6-June-2005

Syria

Syria And Russia Sign Debt Settlement Agreement

Syria and Russia on 29 May in Damascus signed the final debt settlement agreement between them that was reached under a protocol signed on 26 January, when Syrian President Bashar al-Asad visited Moscow (MEES, 31 January). The agreement provides for the writing off of 73% of Syrian net debt of $13.4bn ($9.8bn) owed to Russia, leaving an outstanding $3.6bn which will be paid in two...