Kyrgyz media reports say Russian has written off all of Kyrgyzstan’s debts.

According to Kabar news agency, Kyrgyzstan's Finance Ministers Adylbek Kasymaliyev and his Russian counterpart Anton Siluanov have signed a protocol on writing off of Kyrgyzstan's debt to Russia totaling $ 240 million.

The signing ceremony took place in Moscow on June 20 within the framework of the state visit of President of Kyrgyzstan Almazbek Atambayev to the Russian Federation.

Kyrgyz Finance Minister Adylbek Kasymaliev told reporters that Kyrgyzstan’s debt to Russia had amounted to US$488 million since 2012.

"US$188.9 million was written off in 2013 and US$60 million was written off in 2016-2017 and the remaining US$240 million has been written off today,” Kyrgyz minister told reporters in Moscow on June 20.  

He further added that the protocol would come into force after ratification by the State Duma (Russia’s lower house of parliament).

Kyrgyzstan and Russia are members of the Eurasian Economic Union (EEU).