U.S., G7 Allies Agree Iraq Debt Relief
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The United States and its G7 allies have reached agreement on a deal to forgive 80% of Iraq's huge debts without imposing any conditions, a G7 official said on Saturday.
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U.S., British officials voice confidence that accord will be struck next year to expand debt relief for several dozen nations in sub-Saharan Africa, Latin America and Asia.
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Germany and the United States have agreed on a proposal to write off as much as 80 percent of Iraq&#39;s debt, Germany&#39;s finance minister said Saturday, following a months-long US push for debt forgiveness.
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US President George W. Bush on Sunday hailed an agreement by the Paris Club of creditor nations to cancel 80 percent of Iraq&#39;s debt and called on other nations to join in as well.
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Snow, Powell and Iraqâs Finance Minister Adil Abdul al-Mahdi signed the agreement in a ceremony at the State Department. &#39;Second liberation&#39; Al-Mahdi thanked the US government and its people, describing
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WASHINGTON - The United States signed an agreement with Iraq on Friday to forgive 100 percent of the $4.1 billion debt Iraq owes it, and urged other nations to follow suit to help the war-torn nation.
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THE administration of US President George W Bush will agree to write off the $US4.1 billion ($5.4 billion) worth of debt Iraq racked up during the regime of Saddam Hussein.
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The Paris Club of international creditors has agreed to cancel 80 percent of the debt Iraq owes member countries. Officials say the deal, brokered in Berlin, is worth about $33 billion.
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BERLIN  -Germany's finance minister said Saturday that he and his U.S. counterpart have reached an agreement under which Iraq's creditors would write off up to 80 per cent of the country's debt.
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Major economic powers agreed in principle to write off billions of dollars of debt for Iraq, officials said Sunday, with France in particular agreeing to compromise as it seeks improved ties with the United States.
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The United States and its major economic allies struggled yesterday to resolve deep differences over how best to relieve the heavy debt burden for Iraq and the world&#39;s poorest countries.
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BERLIN : Russia has agreed to a deal to wipe out up to 80 percent of the debt owed by Iraq to the Paris Club creditor nations, a US official said at the conclusion of a Group of 20 meeting.
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Rich nations pledged an agreement soon on forgiving the debt burden weighing on poor nations in Africa, Latin America and Asia but remained divided on reducing billions of dollars of Iraqi debt.
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Major economic powers agreed Sunday to write off more than $31 billion in debt for Iraq in a deal that boosted U.S. efforts to help put the Iraqi economy back on its feet.
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Iraq&#39;s interim finance minister Adel Abdel Mahdi has hailed an agreement by a group of creditor nations including Australia to write off a large chunk of debt inherited from the former regime of Saddam Hussein.
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Germany's Finance Minister Hans Eichel said Saturday he and U.S. Treasury Secretary John Snow had agreed on a proposal to write off as much as 80 percent of Iraq's debt, capping a U.S. push for debt forgiveness.
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WASHINGTON Oct. 2, 2004 - The United States and its major economic allies struggled Saturday to resolve deep differences over how best to relieve the heavy debt burden for Iraq and the world&#39;s poorest countries.