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Politics : World Affairs Discussion -- Ignore unavailable to you. Want to Upgrade?

To: ChinuSFO who wrote (2949)	12/11/2003 8:48:50 AM
From: GUSTAVE JAEGER	Respond to of 3959

Re: Russia has to repay Iraqi debt. Don't you think they need to negotiate with Iraq directly about debt repayment? Well, if history is any guide, Russia's track record is rather erratic when it comes to repaying debt.... Thousands of French families invested in Russian railway bonds before the Bolshevik Revolution of 1917, which repudiated all the debts of the czarist regime. Trading in the bonds continued unchecked for nearly 80 years, when President Boris N. Yeltsin of the Soviet Union authorized a payment of kopecks on the ruble to the long-dead investors. From: Message 19413863

To: ChinuSFO who wrote (2949)	12/11/2003 11:29:07 AM
From: GUSTAVE JAEGER	Read Replies (2) \| Respond to of 3959

Re: the Russian-Iraqi balance sheet. You referred to Russia's debt... isn't it the other way round? Vice-Premier Kudrin: Russia May Restructure Iraqi Debt Russia may restructure Iraqi's debt but "it does not mean that the debt will be written off completely", Russian Vice-Premier, Finance Minister Alexei Kudrin, stated at a press conference following a governmental meeting on Tuesday. When giving comments on the new Iraqi government's statement about its unwillingness to pay off the Iraqi debt to Russia, he pointed out that "there would be an enlarged discussion on the issue." The Vice-Premier recalled that Iraq's debts would be restructured "in compliance with the rules of the Paris club creditors, depending on the state of an economy". In this context there is a possibility to get a privileged restructuring period, necessary to restore the economy as well as a delay," he pointed out. "Russia must observe the rules of the Paris club, but it does not mean that Iraq's debts to Russia (about $8bln) will be written off completely", the Finance Minister concluded. newsfromrussia.com