| Russia is willing to start negotiations with the Paris Club on Iraq’s debt relief, Russian President Vladimir Putin said at a meeting with James Baker, the former US Secretary of State and President George Bush's special envoy on Iraqi debt, on Thursday.
“During the talks on Iraq’s debt problem, Russia expressed readiness to start negotiations shortly on settling the debt within the framework of the Paris Club with the goal of easing Iraq's debt burden. It was underlined that Russia’s position in the talks will be determined taking into account the economic interests of Russia and Russian companies in Iraq,” the presidential press service said.
According to Russian Finance Minister Alexey Kudrin, who also took part in the meeting, the terms of the Paris Club “envisages the adoption of a special IMF program, including structural and institutional measures to reconstruct Iraq’s economy”.
Mr. Baker arrived Thursday in Moscow on his last stop of a European tour seeking debt relief for Iraq. This initiative was supported by Britain, France, Germany and Italy.
Iraq’s debt to the US, France, Germany, Japan, Russia and other members of the Paris Club totals $40bn. Baghdad owes about $80bn to other countries.
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