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Germany not ready to forgive Russian debt FT

LONDON: Germany has said it is not prepared to forgive Russia its Soviet-era debt, the Financial Times reported on Tuesday.

Russia won a $10 billion foreign debt write-off from the London Club of private creditors on Friday, but the newspaper quoted Germany's chief negotiator Siegfried Borggrefe as saying the Paris Club of government creditors was not bound to follow suit.

Under the principle of comparability of treatment, the "Paris Club should not be treated worse than the private sector, but not the other way round", he said.

Germany is the biggest lender in the Paris Club, accounting for half of Russia's $42 billion in debt to governments.-Reuters