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New Iraq will deal with Russian debt- Powell

15th May 2003

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US Secretary of State Colin Powell said in an interview today that the future Iraqi administration would "take fully into account" its eight-billion dollar debt obligations to Russia.

"We estimate that Iraq has to countries around the world roughly 100 to $120-billion of debt, of which eight-billion dollars is Russian debt," Powell said in the interview with the Moscow Echo radio.

"As we move forward we expect that we will have to examine this debt to find out how best to deal with it, either by stretching it out, refinancing it.

"And I'm sure the new Iraqi government will take fully into account its obligations to the Russian Federation," he added. – Sapa-AFP.
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