MOSCOW, July 26 (RIA Novosti) - Russia will take the decision on writing off Iraq's debt after the International Monetary Fund completes the analysis of that country's debt soundness, but no later than in the end of 2004, said Sergei Kolotukhin, director of the Finance Ministry's Department of International Relations, State Debt and State Financial Assets.
According to him, the IMF finalizes the analysis of Iraq's debt soundness. "On its basis the creditors will take the decision on either writing off or restructuring the debt", said Mr. Kolotukhin at a press conference on Monday.
At the same time, he reminded the audience that at the last G8 summit Iraq's creditors took the decision on writing off that country's debt by the end of 2004.
Mr. Kolotukhin said that the total amount of the Iraqi debt to Russia was $9.2 billion. Meanwhile, within the framework of the agreement with the Paris Club, Russia has written off 65% of the debt. Thus, Iraq's debt to Russia currently amounts to $3.5 billion.
