MADRID, Jan. 5 (Xinhuanet) -- Spain will ask the Paris Club to grant a debt moratorium for the tsunami-hit countries, said the Spanish government on Wednesday.

    The Economy and Finance Ministry said the postponement of the repayments will let the countries have more resources to meet the need of the victims of the disaster and reconstruction.

    The Paris Club will discuss the issue in Paris on Jan. 12.

    On Dec. 26, an 8.7-magnitude underwater earthquake struck off the Indonesian island of Sumatra and triggered tsunami which also hit India, Sri Lanka, Malaysia and four other Asian countries, killing about 150,000 people.

    Analysts estimate the disaster has caused about 14 billion US dollars of losses.

    The Asian countries owe Spain 513 million euros (about 667 million US dollars). Of the debt, 80 percent goes to Indonesia, the most affected country by the disaster.

    The Spanish government is to push for discussions on details ofthe moratorium, which would represent a debt relief of 2.25 billion euros (about 2.9 billion dollars).

    The Paris Club is an informal group of official creditors whoserole is to find coordinated and sustainable solutions to payment difficulties experienced by debtor nations.

    Last week, French President Jacques Chirac and German Chancellor Gerhard Schroeder called on the Paris Club to put a debt moratorium on tsunami-hit countries.

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