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Wednesday, March 30, 2005

Russia Writes Off Ethiopia's 1.1-Billion-Dollar Debt

A 1.1-billion-US-dollar debt cancellation agreement has been signed between Ethiopia and Russia, the Ministry of Finance said Wednesday.

Getachew Admassu, public relations officer with the ministry, told journalists that Russia has canceled 1.104 billion dollars of Ethiopia's 1.268-billion-dollar debt.

Ethiopian Minister of Finance Sufian Ahmed and Russian Finance Minister Alexei Kudrin signed the agreement at a ceremony held in Moscow last week, Getachew said.

People's Daily Online

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