G7, Paris Club Agree on Iraq Debt Write-Off
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BERLIN/PARIS  - The United States and Germany  brokered a multi-national agreement on Saturday to forgive up  to $33 billion of Iraq's debts, helping mend ties strained by  the Iraq war.
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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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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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The Paris Club of creditors met on Sunday to finalise an agreement on writing off debts owed to its 19 member countries by Iraq -- a deal which could pave the way for a wider international accord.
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The Paris Club of creditor nations on Saturday was debating a plan to write off as much as 80 percent of the debts Iraq owes them, a key step
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The US has written off on Friday all of its $4.1bn in Iraqi debt and called on other nations to follow suit. At a ceremony in Washington to mark the move, US Secretary of State Colin Powell hailed the move
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The Group of Seven major industrial nations agreed yesterday to allow tsunami-stricken countries to defer debt payments, a largely symbolic gesture but one that could boost broader debt-relief initiatives for poor nations later this year.
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Major economic powers agreed Sunday to write off more than &#36;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 main creditors at the Paris Club have reached an agreement to cancel 80 percent of the debt owed to them by Baghdad, a Paris Club source said Saturday.
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US President George W. Bush has welcomed the decision by the Paris Club of creditor nations to forgive 80 percent of Iraqi debt owed to its members.
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More than a quarter of Iraq's foreign debt burden could be forgiven under a US-German proposal.
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The United States, Germany and other G7 nations agreed on Saturday to write off up to 80 percent of Iraq&#39;s $120 billion foreign debt in a move that could
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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
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The International Monetary Fund said  on Wednesday Iraq's official bilateral creditors had agreed to  defer debt the country owes them until the end of 2005.
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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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The Paris Club of creditor nations, except for Russia, agreed on Sunday to relieve Iraq of as much as 80 percent of the debts it owes them.
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More than a quarter of Iraq&#39;s foreign debt burden could be forgiven after a framework agreement was reached by two of the country&#39;s main creditors.