Source Pravda.Ru

Paris Club nears deal on Russian debt, mainly from Soviet era, source says

Russia » Economics

The Paris Club of creditor nations was putting the final touches to an agreement allowing Russia to buy back about one-third of its mainly Soviet-era debt, a person close to the talks said.

The person, who spoke on condition of anonymity, said the 19-member group of creditor governments was likely to announce a deal later Friday allowing Russia to pay off US$15 billion (Ђ11.8 billion) of the US$43 billion (Ђ34 billion) it owes them.

Germany, which holds some US$18 billion (Ђ14.1 billion) of the Russian debt, is taking a prominent role in the talks.

The expected deal comes after three days of talks among Russia and its Paris Club creditors in the French capital.

LAURENCE FROST, AP Business Writer