Africa: Russia 'may cancel African debt'

Russia may soon write off debts owed to it by 16 of the world's poorest countries, its finance minister has been reported as saying. Moscow would be willing to cancel about $688m (£394m) in bilateral debt, Russian news agency RIA-Novosti quoted Alexei Kudrin as saying. The agreement could encompass a number of African countries including Benin, Tanzania and Zambia.