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Penza region government to potentially restructure municipalities’ debts

09:57 | 01.02.2016 | Society

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Penza, 1 February 2016. PenzaNews. The Penza region government will discuss a potential to restructure debts of municipalities, with certain factors taken into account, announced the governor Ivan Belozertsev during the meeting with administration heads of city areas and municipalities on Monday, February 1.

Penza region government to potentially restructure municipalities’ debts

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He reminded that the debt had been restructured in 2015, and asked representatives of the regional Finance Ministry to make their proposals for 2016.

“The municipalities that work closely with the Penza region Finance Ministry and follow the recommendation – for them, we are ready to take measures to reduce their state debt,” the governor said.

However, as the head of the region added, the attitude towards the municipalities that slack on their obligations will be entirely different.

In addition, Ivan Belozertsev asked to avoid gaining debt and carefully review getting credits in commercial banks, particularly when the interest rate is high – at 18-20%.

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