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  Thursday, September 24, 2020
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Russia has decided to resolve the issue of Afghanistan's $10 billion Soviet-era debt within the Paris Club of creditor nations
Russia has decided to resolve the issue of Afghanistan's $10 billion Soviet-era debt within the Paris Club of creditor nations, diplomats said Monday. The Foreign Ministry said in a statement that Russia, as the main creditor of Afghanistan, would resolve the issue on a multilateral level, as part of the HIPC Initiative, or a comprehensive approach to debt reduction for heavily indebted poor countries, and in accordance with domestic legislation. The diplomats added that Afghan government could accelerate the process by developing trade and economic relations with companies in the creditor nations on a non-discriminatory basis. "Afghanistan's successful efforts under the HIPC Initiative are likely to yield a 100% write-off of its debt to the Russian Federation," the statement read, adding that the resolution of the debt problem would boost its trade, economic and investment cooperation with major creditors and the rest of the international community. The ministry also called on other bilateral creditors to join the move. According to Russian experts, 70% of the debt was provided to Afghanistan by the Soviet Union in the form of fighter planes, other heavy weaponry, spare parts and the services of the Russian military experts. The other 30% remains unexplained and probably consisted of civilian aid under programs to propagate communist ideas and to educate local officials.
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