Development News from Afghanistan

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Russia to write off Afghanistan debt

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MOSCOW, August 6 (Itar-Tass) — Russia will write off Afghanistan’s 11 billion U.S. dollar debt.

Russia and Afghanistan signed a respective agreement on Monday. Finance Minister Alexei Kudrin signed it for Russia, and Finance Minister Anwar Ul-Haq Ahadi for Afghanistan.

Earlier, Deputy Finance Minister Sergei Storchak said the agreement called for a “deep” remission of the Afghan debt to the former Soviet Union in accordance with a multilateral agreement on debt relief for Afghanistan within the Paris Club of creditors.

Ahadi said earlier that Afghanistan’s 11.1 billion U.S. dollar debt to Russia had been discussed at the Paris Club talks. In his words, 10.5 billion of this sum have to be written off and the rest “included in the HIPC programme to be implemented within 3-3 years”.

The programme has been launched by the International Monetary Fund and the World Bank as a debt relief measure for the poorest nations.


Written by afghandevnews

August 6, 2007 at 3:03 pm

Posted in Aid, Economy

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