icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
29 May, 2007 14:19

Russia to write off $US 500 MLN of Africa’s debt

Russia to write off $US 500 MLN of Africa’s debt

Russia's FM Sergey Lavrov has indicated that Russia is going to write off additional $US 500 MLN of African countries' debts. He stressed that Moscow is assisting Africa on debt relief and has already cleared some $US 11 BLN of debt.

This includes $US 2.2 BLN cleared according to the international ‘Heavily Indebted Poor Countries Initiative’, Lavrov said.

The minister also pointed out that Russia's economic co-operation with African countries is increasing, and is now estimated at $US 3.5 BLN annually.

The issue of debt relief is usually on the G8 summit’s agenda and is set to be discussed at the upcoming summit in Germany.