• put

Russia writes off over $20bln debt to African countries

Part of Russia’s initiative to help out the world’s poorest nations, says Putin

Russia decided to write off over $20 billion in debt to African countries, as President Vladimir Putin informed the press following his meeting with his counterpart from Guinea, Thursday.
“We have written off more than $20 billion of African countries’ debts as part of an initiative to help out the world’s poorest and most deeply indebted nations,” President Vladimir Putin told reporters after meeting with his Guinean counterpart Alfa Conde on Thursday.

He added that in 2016 Russia had lined up $5 million as part of the World Health Organization’s African aid program.
Russia has written off debts to a number of Soviet-era allies such as Cuba and North Korea.
In June, Moscow similarly wrote off all of Kyrgyzstan’s debt to Russia, totaling $240 million.

  • Edward Zibnitski

    It’s USSR who helped Africa a lot in order to get it on Communist side during the cold war. It’s unrealistic to expect them pay it back, they can’t and won’t. If Putin wants to fight poverty it would be also nice is to stop wars in post-Soviet countries he starts since 2000 and care about Russians in poverty instead of spending so much for war.