Russia to reschedule Jordan’s debts

Russia proposed to reschedule Jordan’s debts on the condition that Amman buy technical military equipment from Moscow, the TASS news agency said yesterday.

According to the Jordanian newspaper Assabeel, the Russian news agency reported that Russia’s Deputy Finance Minister Sergei Storchak proposes that Jordan be offered the deal on condition that it purchase $387.3 million in military equipment between now and 2019.

Russia offered loans to Jordan in 2006.

Storchak added: “Jordan consumed the whole loan… The kingdom repaid some of the instalments, but the Jordanian King Abdullah II applied for Russian to cancel the debts in March 2012.”

The deputy finance minister said that Russian President Vladimir Putin and his government issued directions to study Jordan’s application and it was decided that this would be a suitable alternative.