The Finance Ministers of Russia and Afghanistan signed an agreement Aug. 6 under which the Kremlin writes off 90 percent of Afghanistan’s USD 11 billion debt and raises the possibility of writing off the remainder, which in the meantime is to be restructured for payment over 23 years. The deal fell under the World Bank/IMF’s Heavily Indebted Poor Countries (HPIC) process. Anwar-ul-Haq Ahadi, who signed the agreement on the part of Afghanistan, said the remaining debt amounted to USD 730 million. (Dow Jones, AFP)

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