Iraq Clears Debt, Opens Way for Aid
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Iraq cleared around $81 million in  debt it owed the International Monetary Fund late last week,  fund sources said on Monday, opening the way for the first aid  to flow from the global lender to Iraq.
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German officials said Saturday they have decided to forgive 80 percent of Iraq&#39;s $120 billion foreign debt, CNN reported. Hans Eichel, Germany&#39;s finance minister, meeting
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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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PARIS : The Paris Club of creditor nations announced it had agreed to wipe out 80 percent of the money Iraq owes in three phases over three years.
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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 has unveiled an international plan to wipe out tens of billions of dollars of Iraqi debt so that the war-torn country can rebuild in earnest.
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Iraq hopes to reach a debt forgiveness deal with leading creditor nations by the end of the year, and views as a "starting point" a proposal by France to initially relieve 50 percent of its debt, Iraq's Finance Minister said on Tuesday.
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Paris - Iraq and the United States on Monday hailed an agreement by a group of creditor nations to write off billions of dollars of debt inherited from the former regime of Saddam Hussein as &quot;historic&quot;.
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Russia will slash at least $9.5 billion of Iraq&#39;s debt to Moscow, Interfax news agency reported Monday. Iraq&#39;s debt to Russia will be reduced to $700 million to $1 billion
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PARIS - Major economic powers agreed to write off $31 billion of Iraqi debt yesterday in a major breakthrough for US-led efforts to get Iraq&#39;s economy back on its feet.
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Paris - The Paris Club of creditor nations, with the exception of Russia, has reached an agreement in principle to slash debts Iraq owes to the group by up to 80%, a well-placed official said on Sunday.
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A French Finance ministry spokesman said the Paris Club of creditor nations had reached deal Sunday to write off 80 percent of the debts Iraq owes them.
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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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China announced with great flourish this week that it is forgiving debt owed by Iraq. But with the Iraqi president set to hold talks Friday with the Chinese premier, it was still unclear how much debt has been written off.
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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 US cancels all the debt owed to it by Iraq and calls on other countries to do the same.
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Iraq and the United States hailed as &quot;historic&quot; an agreement by a group of creditor nations to write off billions of dollars of debt inherited from the former regime of Saddam Hussein.