As a result of talks the Paris Club has arrived at a consolidated decision to write off 80 per cent of Iraq's debt, Russian Finance Minister Aleksey Kudrin told journalists on Sunday [21 November].
"Russia's decision is based on an analysis of Iraq's near- and medium-term solvency as well as on the intention to contribute to the rebuilding of the country's economy," Aleksey Kudrin said.
He said that "until now Iraq has not been servicing its debt to Russia but after the rescheduling and completing a three-year preferential period Iraq should start servicing its debt and this is good for Russia".
Besides, the head of the Finance Ministry said, "Russia is counting on its participation in contracts for rebuilding Iraq's dilapidated economy and developing mineral resources".

Source: Interfax news agency, Moscow
BBC Monitoring