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Czech EGAP needs to restructure EUR 360mn of loans to Russian firms

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The state-owned Czech Export Guarantee and Insurance Corporation (EGAP) will have to restructure about CZK 10 billion (EUR360mn) worth of loans to Russian firms, Lidové noviny daily reported, citing EGAP spokeswoman Hana Hikelová. Most of the loans are denominated in euros and the Russian companies are now facing problems repaying their debts due to the depreciation of the ruble.

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