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Gari-News » Nicaragua's $3.4Bln Debt Forgiven
Jul 27, 2004

Moscow Times, Russia

Russia has settled Nicaragua's $3.4 billion debt under the Heavily Indebted Poor Countries program and been repaid only about 1 percent of it, the head of the Finance Ministry's debt department said Monday.

Nicaragua became a HIPC beneficiary in 1999.

"Since then, Nicaragua has paid $38 million of the debt," Sergei Kolotukhin told reporters.

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