Syria Claims It's Now Completely Free of Foreign Debt

May 1, 2010Syriaby EW News Desk Team

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Syrian Finance Minister Mohammad al-Hussein announced that Syria has settled all of its foreign debt.

The Syrian state news agency says Syria and Bulgaria have signed a deal to write off most of Damascus' outstanding debt to the European nation.

Syrian Finance Minister Mohammad al-Hussein announced that Syria has settled all of its foreign debt.

The Syrian state news agency says Syria and Bulgaria have signed a deal to write off most of Damascus' outstanding debt to the European nation.

The SANA news agency says Prime Minister Naji al-Otari recently inked the agreement with his Bulgarian counterpart, Boiko Borisov.

Al-Hussein told reporters that Bulgaria agreed to write off $54 million of Damascus' debt.

He said the two sides will study ways to repay the remaining $17 million,according to this Associated Press report in the New York Times.

With the agreement, Al-Hussein said Damascus has now settled all of its foreign debt, the bulk of which dated back to the 1980s.

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