A Change of Guard

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Wednesday, 10 December 2008

Russia’s Finance Ministry denies writing off Cambodia's debt


MOSCOW, Dec 9 (Prime-Tass) -- Russia's Finance Ministry on Tuesday denied reports that Russia had written off part of Cambodia's debt.

"Russia is not holding such talks," a spokesperson for the Finance Ministry said.

The principal amount of Cambodia's debt to Russia amounts to approximately U.S. $1.5 billion, the spokesperson said.

Chinese news agency Xinhua reported earlier Tuesday, citing Cambodian parliamentarian Cheam Yeap, that Russia had cancelled 70% of Cambodia's debt.

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