Russia cancels most Afghan debt by Ioana Madalina Tantareanu

A significant boost for the war ravaged country of Afghanistan occured when Russia agreed to cancel 90% of the countrie's Soviet-era debt, of about $10 billion. Even if the Soviet occupation of Afghanistan that lasted from 1979 to 1989, when the Red Army withdrew, caused the death of about 1 million Afghans, Russia is also Afghanistan's biggest creditor, mostly for sales of weapons during the Soviet era. The agreement between Alexei Kudrin, Russia's Minster of Finance and Anwar-ul Haq Ahadi, his counterpart, was signed in Moscow. This move from Russia is a major support for the Afghan Government who is struggling to assert authority over the Taleban rebels, with the help of NATO and US-led forces. Kudrin declared that Russia wishes to actively participate in helping the economy of Afghanistan and wanted to support the Afghan Government in building a new life and stabilizing the economic and political situation of the country. Kudrin also declared this to be a historic day for the two countries, as a long lasting discussion has finally ended. "I look forward to greater cooperation with Russia. We would like further economic cooperation with Russia. We think Russian companies have the competitive advantage and that they can compete in Afghanistan's market." Mr Ahadi said.

by Ioana Madalina Tantareanu for PocketNews (http://pocketnews.tv)

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