US Cancels Iraq&#39;s Debt
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17 December 2004 (NCA) -- The United States formally wrote off all of its $4.1 billion in Iraqi debt and urged other nations to follow the example.
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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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WASHINGTON: The Bush administration has agreed to write off Iraq&#39;s debts to Washington of $4.1 billion, racked up during the regime of Saddam Hussein.
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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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Russia has agreed to write off $12bn (Â£6bn) of Iraqi debt built up by the Saddam Hussein regime.
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Iraqi President Jalal Talabani welcomed Friday an expected Russian decision to write off 91 percent of Iraq's estimated $13 billion debt, calling it a "historic turning point" in relations between the two countries.
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Germany&#39;s finance minister said Saturday that he and his US counterpart have reached an agreement under which Iraq&#39;s creditors would write off up to 80 per cent of the country&#39;s debt.
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Germany and the United States have agreed on a proposal to cancel 80 percent or about $33 billion of the debt owed by Iraq to a group of creditor nations known
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BERLIN, Nov. 20 -- Germany and the United States have agreed on a proposal to write off as much as 80 percent of Iraq's debt, Germany's finance minister said Saturday, following a months-long U.S. push for debt forgiveness.
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The United States on Friday completely forgave $4.1 billion in debt Iraq owed it and urged other nations not part of an international debt relief agreement to follow suit.
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The cancellation was announced against the backdrop of a clericÂs boycott of the Iraqi government and the disclosure of a classified White House memo.
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The deal is part of a new international agreement to forgive 80 per cent of Iraq&#39;s international debt, amounting to a total of about $150 billion.
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WASHINGTON - The Pentagon has hastily reversed a decision to partially withhold payments to Halliburton, the biggest US contractor in Iraq.
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The United States, Germany and other G7  nations agreed on Saturday to write off up to 80 percent of  Iraq's $120 billion foreign debt in a move that could pave the  way for a wider international accord, officials said.
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As a result of talks the Paris Club has arrived at a consolidated decision to write off 80 per cent of Iraq&#39;s debt, Russian Finance Minister Aleksey Kudrin told journalists on Sunday [21 November].
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A deal to forgive a large chunk of Iraq&#39;s external debt could finally be announced this week after key creditor nations came to an agreement at the weekend ending months of stalemate.
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Nineteen countries, including Australia, have agreed to cancel 80 per cent of the debt Iraq owes them. The deal secured for the Paris Club of creditor nations ends a trans-Atlantic dispute and probably sets