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Biden Administration Moves to Forgive $4.7 billion of Loans to Ukraine

  • The Biden administration is forgiving about $4.7 billion in loans to Ukraine, as stated by State Department spokesperson Matthew Miller on Nov 20.
  • The administration informed Congress about its plan to cancel $4.65 billion in debt owed by Ukraine, according to Bloomberg News.
  • Senator Rand Paul has proposed a motion to prevent the debt forgiveness, criticizing American aid to Ukraine in the past.
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