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Selling/Buying » Russia writes off $20billion of African countries debts. by: G.T.A.Drumz(m) .:. Thu, 23 Mar, 2023 - 07:02:40:am GMT

Russian President Vladimir Putin has said that Moscow has written off the debts of African states for more than $20 billion.

At an international parliamentary conference called "Russia-Africa in a multipolar world," Putin said that trade turnover between Russia and African countries is growing every year and will reach nearly $18 billion in 2022.

"It is unlikely that such a character could fully suit us, but we know that it is far from the limit," he added.

Putin also said he believed "the development of counter-commodity exchanges will be facilitated by a more vigorous transition in financial settlement to national currencies and the establishment of new transport and logistics chains."

He further said: "The process of establishing the African Continental Free Trade Area AFCFTA, which started in 2021, is opening up further opportunities, which will become a continental market with a total GDP of more than $3 trillion in the future."

Russia, he said, is in favor of establishing relations with the AFCFTA both through the Eurasian Economic Union and at the bilateral level, adding that Africa will become one of the leaders of the multipolar world.

"African states are constantly increasing their weight and their role in world events, they are asserting themselves more and more confidently in politics and in the economy. We are convinced that Africa will become one of the leaders of the emerging new multipolar world order," Putin said.

He said that Russia and the countries of Africa, Asia and Latin America are against the ne👎colonial ideology.

**G.T.A. cares**

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