Russia's Paris Club Debt: U.S. Interests

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Russia is seeking substantial debt forgiveness from its Paris Club debt of some $42 billion. Germany holds about half this official debt; the United States share is 6%. The United States may adopt a policy of no debt relief, of rescheduling payments of principal and interest, or of debt forgiveness. The official position of creditor countries in the Paris Club is for no debt forgiveness. Many in Congress support linkage of any debt relief to an end of the Chechnya conflict and of aid to Serbia, and other foreign and security issues. H.R. 4118, "Russian-American Trust and Cooperation Act of … continued below

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Hardt, John P. July 18, 2000.

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Description

Russia is seeking substantial debt forgiveness from its Paris Club debt of some $42 billion. Germany holds about half this official debt; the United States share is 6%. The United States may adopt a policy of no debt relief, of rescheduling payments of principal and interest, or of debt forgiveness. The official position of creditor countries in the Paris Club is for no debt forgiveness. Many in Congress support linkage of any debt relief to an end of the Chechnya conflict and of aid to Serbia, and other foreign and security issues. H.R. 4118, "Russian-American Trust and Cooperation Act of 2000," dealing with a Russian intelligence facility in Cuba, was reported out of the U.S. House of Representatives to be debated starting Wednesday, July 19, 2000. Paris Club negotiations will be discussed at the Okinawa G-8 meeting, July 21-22, 2000. This report will not be updated.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1960's through 2018—covering a variety of topics from agriculture to foreign policy to welfare.

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  • July 18, 2000

Added to The UNT Digital Library

  • June 11, 2005, 10:43 p.m.

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  • June 20, 2020, 5:54 p.m.

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Hardt, John P. Russia's Paris Club Debt: U.S. Interests, report, July 18, 2000; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metacrs1261/: accessed December 2, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.

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