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Russia to provide favorable conditions for Afghan debt repayment

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MOSCOW, August 19 (RIA Novosti) - Russia intends to coordinate favorable repayment of Afghan debt under the auspices of the Paris Club, a spokesman for the Finance Ministry said Friday after a meeting between Finance Minister Alexei Kudrin and his Afghan counterpart Anwar-ul Haq Ahadi.

Following an Afghan request, Russia also agreed to consider additional repayment schemes based on bilateral negotiations with a "zero option," which envisages a complete write-off of Afghan debt on special loans and partial debt relief on economic loans with a restructuring of its remaining part on favorable conditions.

The negotiating parties have agreed to make precise calculations on the amount of the debt in the shortest time, in order to set conditions for a bilateral agreement, with relative orders to be given to designated banks to negotiate calculation results in Moscow by September, if possible.

The parties have also agreed to calculate Afghan debt on clearing contracts signed between the Soviet Union and Afghanistan and denominated in U.S. dollars.

Afghanistan's debt aggregates about $10 billion, 70% of which is derived from military supplies.

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