Putin Cancels $20 Billion Of African Debt

At the International Parliamentary Conference, Putin announced that he would cancel $20 billion of African debt.

Russian President Vladimir Pution on Monday announced that Moscow had written off debts of Africa states worth more than 20 Billion USD.

The Russian leader said this at the International Parliamentary Conference themed “Russia – Africa in a Multipolar World,” held in Moscow under the auspices of the State Duma of the Russian Federal Assembly.

“President Putin has written off $20bn of the Africa’s debts scholarships for the Africans at universities to double will supply food to African countries in need for free, even if the Grain Deal is not extended after 60 days,” noted Russian Embassy in Kenya

Putin said Russia has and will always consider cooperation with African states a priority and reiterated that Africa is one of the unchanging priorities of Russia’s foreign policy.

“I would like to stress that Russia is reliably fulfilling all its obligations pertaining to the supply of food, fertilisers, fuel and other products that are critically important to the countries of Africa, helping to ensure their food and energy security. You probably know that we are ready to supply some of the resources we have frozen in European countries to countries in need free of charge, including fertilisers; and the first batches have already been sent,” he told the African heads of states.

Bloomberg reported that the US is studying how to guarantee all $18 trillion in US bank deposits.

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