Cashing in Russian debt

THE CABINET has agreed to write off almost half of the debt Russia owes Slovakia through a cash settlement for 30 per cent of the debt figure, meaning $460 million will be written off the debt in exchange for just over $130 million in cash.

The deal, proposed by Finance Minister František Hajnovič (SDĽ), contains better terms than creditor countries have obtained from Russia in the past. The Czech Republic last year obtained 22.5 per cent of its real debt figure in a cash settlement, while Germany has received as little as 6.5 per cent.

The remaining $450 million in debt will be settled through exports from Russia to Slovakia of largely raw materials, as has been the practice in the past.

The government has been frustrated by the slow pace of debt settlement; although Russia agreed to send $137 million worth of goods to Slovakia this year, only $7 million has arrived so far.

Top stories

Bronze sculptures of three late Slovak comedians - Milan Lasica (right), Július Satinský (left) and Jaro Filip (middle) on Lužná Street in Petržalka, Bratislava.

Weekend: Cross-country skiers hit the beach

A hike to Veľký Choč, dinosaur footprints, and a US hip hop legend. Read the latest culture and travel news from Slovakia.


21. jan
Zara Rutherford made a stop in Slovakia on January 15.

In a Slovak plane, teen pilot lands in the world record books

British-Belgian Zara Rutherford has broken two world records, but her global hunt for a tasty pizza was a failure.


21. jan
Marián Turner became the General Director of the Slovak Philharmonic in January 2022.

Slovak Philharmonic is a first-class institution people outside Bratislava rarely see perform

Marián Turner, a former flautist, has become the new Slovak Philharmonic head. His priority is to fully reopen the institution to live audiences.


19. jan
Illustrative stock photo

Slovak universities are losing students

They will actively look for students abroad, like Czech universities do in Slovakia.


21. jan
Skryť Close ad