EFL
Russia's finance minister said Tuesday that Moscow may be willing to consider a restructuring of Iraqi debts contracted by Saddam Hussein's regime but stressed that the government opposed a complete write-off. Finance Minister Alexei Kudrin emphasized that the issue of Iraq's massive debt must be handled within the framework of the Paris Club of creditor nations. Russian officials initially bristled at suggestions by U.S. Deputy Defense Secretary Paul Wolfowitz earlier this month that Russia should simply write off the Iraqi debt to help in the country's postwar reconstruction. However, President Vladimir Putin said Moscow was willing to consider the proposal. Russia opposed the U.S.-led war in Iraq, but Moscow is being encouraged by Washington to play a constructive role in rebuilding the country. A flexible Russian attitude on debt repayment could be interpreted positively by the United States.
| Write off that money, and you get more money in the future... |
Alexander Shokhin, the head of the finance and credit committee of the lower house of the Russian parliament, suggested that Iraq's debt to Russia, some of which was for arms purchases, could be reduced by 80 percent.
Putin is cutting his losses, he wants another invite to the ranch.
| And to be in line for more money in the future, when Iraq is rich enough to buy things for real cash, not just on credit... |
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