Vietnam Fully Settles Debt to Bulgaria

Vietnam paid out its entire debt to Bulgaria as agreed in July, reported the Bulgarian Ministry of Finance Thursday.

The South-East Asian country paid to Bulgaria about USD 725,000. Its total debt was USD 1.325 M, but the remaining USD 600,000 will be considered development help to the Vietnamese economy, part of Bulgaria's commitments within the EU policies to provide official help.

With Thursday's payment Vietnam is free of all obligations arising from the 1998 intergovernmental agreement regarding state debt.

July 2010 Bulgarian finance minister Simeon Djankov and Vietnamese first deputy PM Nguyen Sinh Hung singed a treaty in Sofia for the settlement of the Vietnamese debt to Bulgaria.

During the official visit the two countries held a joint business forum and sought to further connections with each other.

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