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Paris Club assents to Moldova's debt restructure

On May 12, the Paris Club of creditor countries agreed to restructure $150 million of Moldova's debt. The creditors agreed to restructure the foreign loans Moldova had received before December 31, 2000, for 15- and 20-year periods. Those loans will have a five- and 10-year grace period, respectively. According to the deal, Moldova must hold talks by the end of 2006 with its foreign creditors - the United States, Russia, Japan, Germany, and Italy - to work out the details of the restructuring.