US to cancel $108m Afghan debt

February 7, 2006 23:50

The United States plans to cancel approximately $108 million (€90.2 million) in debt owed by Afghanistan through the procedures of the Paris Club, an informal group of creditor nations, the State Department said Friday. Spokesman Sean McCormack said Russia and Germany, Afghanistan's other Paris Club creditors also intend to provide 100 percent cancellation. Russian news agencies quoted Finance Ministry officials Monday as saying Russia would cancel $10-billion (euro 8.3) of Soviet era debt provided Afghanistan acknowledged the debt.

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