Khakassia to Take Out New Loan to Refinance Budget Debt

Loan Details

The Khakassia Republic in Russia is planning to take out a new loan of 1.6 billion rubles (approximately $21.4 million) to refinance its existing budget debt.

The loan will be provided by the Russian Ministry of Finance and will have a term of 15 years.

The Khakassia Republic is one of the poorest regions in Russia and has been struggling with high levels of debt for several years.

Debt Restructuring

The new loan is part of a larger effort by the Khakassia Republic to restructure its debt and improve its fiscal situation.

In addition to the new loan, the Khakassia Republic is also planning to sell off some of its assets and reduce its spending.

The Khakassia Republic hopes that the debt restructuring will help it to improve its credit rating and attract new investment.

Economic Impact

The new loan is expected to have a positive impact on the Khakassia Republic's economy.

The loan will allow the Khakassia Republic to reduce its interest payments and free up more money for other spending priorities.

The Khakassia Republic is also hoping that the debt restructuring will help to improve its business environment and attract new investors.