Russia writes off $20 billion for African countries

According to pravda.ru , Russia has written off the debt of over $20 billion to several African countries, the Head of the Department of International Organizations of the Ministry for Foreign Affairs of Russia, Vladimir Sergeyev, stated speaking at the UN General Assembly. The move seems to be strange and inappropriate under the conditions of the economic crisis.

This write-off is not the first one. In 2008, Moscow wrote off $16 billion of debt of African countries. The diplomat said that Russia transferred $50 million to the World Bank's foundation for poor countries. The funds of the organization are directed to the development of the African region to the south from the Sahara desert. To crown it all, Russia allocated $ 43 million to the World Bank program during the last four years. The funds were assigned to improve education in developing countries - especially in African countries. More than 8,000 students from Africa study at the Russian higher education institutions, and more than a half of them study for free.
Russia has signed agreements with Tanzania and Zambia within the scope of the "debt-for-development" program. The agreements stipulate that the debt of those countries to Russia would be targeted for their development. The Russian government intends to sign similar agreements with Mozambique, Benin and Ethiopia.
Russia regularly writes off the debts of its debtors worldwide. The debts were formed during the Soviet period, when those countries were buying weapons from the Soviet Union. In September of this year, the Russian Federation "forgave" the debt of $11 billion to North Korea. In the summer of 2010, Russia wrote off 12 billion dollars to Afghanistan, and in the winter of 2008 - nearly 8 billion dollars to Iraq. Over the last 11 years, Russia has written off foreign debts in the total amount of $80 billion and paid $124 billion to its creditors. Here is the list of the largest debts that were written off by Russia:
Afghanistan - $12 billion, Iraq - $11.9 billion, Mongolia - $11 billion, North Korea - $11 billion, Syria - $9.8 billion, Ethiopia - $4.8 billion, Libya - $4.5 billion, Algeria - $4.3 billion, Nicaragua - $4.3 billion, Angola - $3.5 billion.

LINK

Every rich country should come forward like Russia to help poor nations rather than wasting their money in unnecessary Wars.

Originally posted by UltraMarine
This is a good news . Every rich country should come forward and help poor nations .

Yep that is the "Jesus-like" thing to do, but very surprisingly, our Western Right-wing Capitalists (Majority who claim to be Christian) would HATE such an idea. Hmmm not very "Christian" of them...

And Rich should help the Poor because it is the RIGHT THING TO DO!! But most wont.

Originally posted by YourWIFI

Originally posted by UltraMarine
This is a good news . Every rich country should come forward and help poor nations .

Yep that is the "Jesus-like" thing to do, but very surprisingly, our Western Right-wing Capitalists (Majority who claim to be Christian) would HATE such an idea. Hmmm not very "Christian" of them...

And Rich should help the Poor because it is the RIGHT THING TO DO!! But most wont.

Ya . May be the rich are not helping the poor because rich people are very very greedy

Originally posted by UltraMarine
Ya . May be the rich are not helping the poor because rich people are very very greedy

After all would it not be somewhat crazy to go to so much trouble to rob the third world only to give ( never all but even something) back to them some years or decades later? Crazy indeed!

Stellar

The US contributes billions each year to the UN alone.
There is no reporting done after 2007 because they don't want us to know how much we give but it is in the 10-15 billion dollar range according to estimates.
Last year the US gave out 58 billion in foreign assistance.
647 million allocated to Nigeria mostly to fight HIV/AIDS.
1.5 billion to Egypt alone this year.
20 million for Cuba even with sanctions still in place.
Mexico 335 million last year.

From ABC 20/20 ...2007

Carol Adelman at the Hudson Institute has studied how much Americans give privately in foreign aid. She says it's a myth that Americans are stingy.

"We're one of the most generous people in the world, and that's because of our private philanthropy," she said.

Adelman published her findings in the institute's "Index of Global Philanthropy," which found that while the U.S. government gave about $28 billion in foreign aid in 2005, privately, Americans gave $33.5 billion.

On top of that, immigrants in America send about $62 billion abroad to family members and home towns. That's anything but stingy.

"Americans give abroad like they do domestically, through their private institutions," Adelman said.

After the tsunami three years ago, the U.S. government pledged approximately $900 million to relief efforts, but American individuals gave $2 billion in food, clothing and cash.

This is about five minutes of poking around for numbers.

Evil rich people.

reply to post by badgerprints


You really think the USA is being honorable and sending aid to countries like Cuba? While at the same time destroying them economically and militarily for decades? I kinda doubt it.

What I do believe however, is that the USA sends money to US companies operating in and around those countries and doing US bidding and biting. Stuff like spying, making US public money private money through 3rd countries, sponsoring revolutions and terrorism, forced vaccinations and unkown "birth prevention"...

That is also the reason why all US funded institiutions are being kicked out of Latin America and Russia.

There is quite a track record of that b***t, and I wouldn't be so eager to pronounce the US a benefactor in any way.

You guys really think they did this out of the kindness of their hearts? Don't be so naive. There was surely a deal struck of some kind, that much you can be sure of. Nothing in this world is free, especially not $20billion, and definitely not to Russia..

Originally posted by badnickname
reply to post by badgerprints

 

You really think the USA is being honorable and sending aid to countries like Cuba? While at the same time destroying them economically and militarily for decades? I kinda doubt it.

What I do believe however, is that the USA sends money to US companies operating in and around those countries and doing US bidding and biting. Stuff like spying, making US public money private money through 3rd countries, sponsoring revolutions and terrorism, forced vaccinations and unkown "birth prevention"...

That is also the reason why all US funded institiutions are being kicked out of Latin America and Russia.

There is quite a track record of that b***t, and I wouldn't be so eager to pronounce the US a benefactor in any way.

I can't control politics. Never could and neither can you.
The US is no more evil than Russia or China. They are all manipulating.

Calling Russia a hero for dropping a debt they can't collect is no less wrong than calling the US evil for using their donations to their advantage.

I guess you missed my point.
US Citizens give more in donated financial aid each year than the government.
Not every "rich person" is evil.

I obviously missed your point.
You used a Russian write off to start a bashing thread, not to discuss actual aid or contributions.

Bash away.

reply to post by badgerprints


I simply responded to your post wich I thought was propagating a worldview of a US as an "aid giving" entity. I believe this is a myth and also an ingorance propagating one, thus my reply. Sorry if I went overboard, I tend to be sensitive about such issues.

I agree Russia wrote off debts it cannot collect, and would be using this to further their influence and contain US interests in those countries.

Originally posted by Ear-Responsible
You guys really think they did this out of the kindness of their hearts? Don't be so naive. There was surely a deal struck of some kind, that much you can be sure of. Nothing in this world is free, especially not $20billion, and definitely not to Russia..

PLease bring to light this deal. If not you are full of it

reply to post by UltraMarine


Oil has been found in parts of Africa lately... this could be a factor!!

gotta love US humanitarian aid , usually comes in the form of an explosive !

Anyways nice to see russia paying of some debt and wiping some debt , arent russia now in the black with the world bank , didnt they pay of their debt like 5 years ago !

Originally posted by votan

Originally posted by Ear-Responsible
You guys really think they did this out of the kindness of their hearts? Don't be so naive. There was surely a deal struck of some kind, that much you can be sure of. Nothing in this world is free, especially not $20billion, and definitely not to Russia..

PLease bring to light this deal. If not you are full of it

Yea.. I question the motives of a free $20 billion write off, and im the one full of it? Mhm, seems legit.

GJ Russia, #ing awesome.
Other nations could learn from this.

Originally posted by sapien82
gotta love US humanitarian aid , usually comes in the form of an explosive !

Anyways nice to see russia paying of some debt and wiping some debt , arent russia now in the black with the world bank , didnt they pay of their debt like 5 years ago !

No. America is a Representative Constitutional Republic, as such the vast MAJORITY of American foreign aid is in the form of PRIVATE donations that goes to helping people.