US and Germany to cancel Afghanistan's debts

8th February 2006, Comments 0 comments

8 February 2006, KABUL - The United States intends to cancel all of the debt owed to it by Afghanistan, approximately 108 million dollars, subject to domestic legal requirements, according to a press statement issued Wednesday by the US embassy in Kabul.

8 February 2006

KABUL - The United States intends to cancel all of the debt owed to it by Afghanistan, approximately 108 million dollars, subject to domestic legal requirements, according to a press statement issued Wednesday by the US embassy in Kabul.

"The US action will be done through normal Paris Club procedures. Russia and Germany, Afghanistan's other Paris Club creditors, also intend to provide 100 per cent cancellation," the statement said.

The solution of the debt problem through the Paris Club process will strongly contribute to the development of Afghanistan's trade, investment, and other economic ties with its major creditors and with the rest of the world.

The United States is also calling on other bilateral creditors of Afghanistan to provide the same 100 per cent relief.

DPA

Subject: German news

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