Putin cancels Africa’s debts worth over US$20 billion

Putin cancels Africa’s debts worth over US$20 billion. Russia has become a key ally to many African countries, and Putin has made significant strides in strengthening the relationship between the two regions. At the “Russia-Africa in a multipolar world“ conference, Putin reiterated Russia’s commitment to prioritizing cooperation with African nations. The cancellation of African debts is just one example of the bold steps Russia has taken to build a more productive and mutually beneficial relationship with the continent over the years. Putin has cancelled more than $20 billion in debt owed by African countries. This debt had been accumulated during the Soviet era. In the past, Russia had attempted to collect these debts, which were mainly a result of Moscow’s previous alliances with African countries that supported its communist ideology. During this time, Russia provided military equipment and technical assistance to countries such as Angola, Algeria, the Democratic Republic of Congo (DRC), Ethiopia, Namibia, Mozambique, Morocco, and South Africa, among others. As a result, many African nations found themselves heavily indebted to Russia, with official documents estimating the total amount at $20 billion. ▬▬▬▬▬▬▬▬▬ ✅SUPPORT US /AFFILIATE LINKS Use this affiliate link for your purchases at #MIZIZI International - Support our channel - PayPal: newafricachannel(at) Follow us on Instagram - Follow us on Twitter - Join us on Facebook - ▬▬▬▬▬▬▬▬▬ ✅COPYRIGHT DISCLAIMER The New Africa Channel doesn’t fully own some of the materials compiled in its videos. It belongs to people or organizations who ought to be respected. If used, it falls under the following provisions: Copyright disclaimer section 107 of the Copyright Act 1976. “Fair use“ is allowed for purposes such as criticism, comment, news reporting, teaching, scholarships, and research. ✅ If you are the owner of the materials used in this video, contact us, and we will follow your request immediately: info(at) ▬▬▬▬▬▬▬▬▬ ✅COMMENTING POLICY Keep your comments and posts appropriate, helpful, and relevant. Any offensive, disrespectful, harmful, threatening, vulgar, obscene, or inappropriate content will be removed immediately. Spamming, vandalizing, promoting, and advertising are also not allowed. While we encourage free speech and open discussion, attacking or harassing other users is not tolerated. Repeat violators of this policy will be reported and may face a ban. ▬▬▬▬▬▬▬▬▬ #AfricaNews #TopAfricaNews #News #NewsAfrica #AfricaNews