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KIEV ) -- Ukrainian President Leonid Kuchma has signed a decree ordering the government to issue securities by Oct. 10 aimed at paying off arrears to Russia's natural gas monopoly , state radio said.
Kuchma's decree did not indicate the issue's volume or nominal value of the transferable paper, which can be exchanged for shares in privatized companies in Ukraine.
The securities are being issued according to a March agreement between the Ukrainian government and Gazprom, under which Kiev took on responsibility for $1.4 billion of $1.5 billion in arrears for natural gas imports in 1994.
Kuchma Acts on Debt
10 October 1995
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