Tashkent, Sept. 23 -- A Guarantee Fund for servicing the state debt has been established under the Treasury of the Ministry of Finance of Uzbekistan.

If debtor organizations or refinancing banks fail to pay off, and the Fund has insufficient money, the debt is covered primarily at the expense of the state budget.

Payments under state guarantees of the Republic of Uzbekistan are determined in the amount of at least 0.5 percent per annum of the remaining amount of debt.

If payments from debtor organizations are not recovered in full within 30 calendar days, the unpaid debt and accrued fines and penalties applied to it are collected in court.

Published by HT Digital Content Services with permission from UzReport....