Russia

Russia could write off Cambodia's $1.5 bln debt

15:28 10/11/2008

MOSCOW, November 10 (RIA Novosti) - Russia is discussing with the Cambodian leadership the possibility of writing off most of Cambodia's debt, which stands at around $1.5 billion, a senior Russian lawmaker said on Monday.

"Russia and Cambodia are holding talks to write off Cambodia's debt of around $1.5 billion. The principal sum (about 70%) of the debt could be written off as part of Russia's participation in the Paris Club of Creditor Nations," said Valery Yazev, deputy speaker of the lower house of Russia's parliament, after a trip to Cambodia and Laos.

Yazev said the debt's outstanding part could be divided into two and settled at concessional interest rates.

The vice-speaker said the next round of negotiations on settling Cambodia's debt to Russia would be held early next year in Moscow.

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<div style="border:1px solid #d3d3d3; padding:17px 0 0px 17px; background:#ffffff; width:510px;"><div style="width:100%; overflow:hidden;"><a target="_blank" href="http://en.rian.ru/russia/20081110/118222547.html" style="text-decoration:none;"><img src="http://en.rian.ru/i/eng/logo_sml.gif" alt="RIA Novosti" title="RIA Novosti" style="float:left; margin-right:10px;" border="0" /></a><a target="_blank" href="http://en.rian.ru/russia/20081110/118222547.html" style="color:#000000;text-decoration:none;display: block; margin: 0 10px 0 0 ;"><strong style="font:19px Georgia,Arial,sans-serif; line-height:16px; font-weight:bold;">Russia could write off Cambodia's $1.5 bln debt </strong></a><p style="font:13px Georgia,Arial,sans-serif; padding:5px 10px 0px 0;"><span style="color:#5590bf;">15:28</span> <span style="color:#5590bf; padding-right:7px;">10/11/2008</span> <span style="font-size:12px;"> Russia is discussing with the Cambodian leadership the possibility of writing off most of Cambodia's debt, which stands at around $1.5 billion, a senior Russian lawmaker said on Monday. <a target="_blank" style="color:#335f86; padding-left:10px; text-decoration:underline;" href="http://en.rian.ru/russia/20081110/118222547.html" title="Russia could write off Cambodia's $1.5 bln debt ">>></a></span></p><div style="padding:6px 0 15px 30px; font:10px Verdana,sans-serif;"><a target="_blank" style="color:#114472; text-decoration:underline;" href="http://en.rian.ru" title="RIA Novosti">Other news of the day</a></div></div></div>

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Russia could write off Cambodia's $1.5 bln debt

15:28 10/11/2008 Russia is discussing with the Cambodian leadership the possibility of writing off most of Cambodia's debt, which stands at around $1.5 billion, a senior Russian lawmaker said on Monday. >>

Other news of the day