Russia will write off Iraq's $10 bln debt - Kudrin

Russia will sign a Paris Club agreement to write off Iraq's debt of about $10 billion, the Russian finance minister said Sunday.

SINGAPORE, September 17 (RIA Novosti) - Russia will sign a Paris Club agreement to write off Iraq's debt of about $10 billion, the Russian finance minister said Sunday.

"Technicalities are being settled at the moment," Alexei Kudrin said, adding the debt could be written off in the next few months.

The write-off follows an agreement in November 2004 by the Paris Club nations to cancel about 80 percent of the Iraqi debt to each of the club's 19 creditor nations.

Kudrin said Iraq would only owe Russia over $1 billion, including interest, after the write-off.