Nations Agree to Write Off Iraq&#39;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 world's seven leading industrialized countries have agreed to support the suspension of debt payments by countries affected by the tsunami disaster, the British treasury announced.
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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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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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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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PARIS/BERLIN  - The Paris Club of creditor nations  agreed on Sunday to cancel 80 percent of the debt Iraq owes its  members, ending a transatlantic dispute and probably setting  the framework for debt pardons from other creditors.
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Iraq&#39;s foreign debt will be reduced by 80% after a compromise deal was brokered between France, Germany and the USA in the framework of the Paris Club of creditors on 21 November.
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The Paris Club of creditor nations, except for Russia, has agreed in principle to slash debts Iraq owes to the group by up to 80 percent, an official said Sunday.
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Britain has announced it is ready to write off a substantial portion of debt owed by the world&#39;s poorest countries. Britain&#39;s Finance Minister, the Chancellor of the Exchequer, Gordon Brown, has told a meeting
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Key creditor nations reportedly approve a plan to slash Iraq's debts, as an election date is announced.
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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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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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The United States, Germany and other G7 nations agreed on Saturday to write off up to 80 percent of Iraq's &#36;120 billion foreign debt in a move that could pave the way for a wider international accord, officials said.
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RUSSIA today agreed to join a pact to forgive up to 80 per cent, or about $US33 billion ($42.44 billion) worth, of Iraq&#39;s debts, a US Treasury official said at a Group of 20 meeting where the multinational agreement was engineered.
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A French finance ministry spokesman said the Paris Club of creditor nations had reached a deal yesterday to write off 80 per cent of the debts Iraq owes them.
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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 with finance
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Britain announced Sunday it would unilaterally write off its share of debts owed to the World Bank by the world&#39;s poorest countries.