Creditors to forgive up to 80 per cent of Iraq&#39;s debt, German ...
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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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Iraq's debts to the Paris Club of creditor nations will probably not be cut by much more than half, a source close to the German government said.
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Russia has not agreed to a German-US proposal that would forgive up to 80 percent of Iraq&#39;s foreign debt, according to German Finance Minister Hans Eichel.
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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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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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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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German officials said Saturday they have decided to forgive 80 percent of Iraq's $120 billion foreign debt, CNN reported.
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The United States will try to convince more of Iraq&#39;s creditors to forgive the country&#39;s debt, Treasury Secretary John Snow said on Friday.
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BERLIN: German construction firms yesterday slammed plans by the Paris Club of creditor nations to wipe out 80 per cent of Iraq&#39;s debt, warning that individual companies might seek to seek legal action against the German government to protect their claims
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German Chancellor Gerhard Schroeder called on creditor nations Wednesday to suspend debt repayments from Indonesia and Somalia to help in their recovery from the quake-tsunami disaster.
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BERLIN, Nov 20  - Germany on Saturday unveiled a breakthrough international plan to wipe out tens of billions of dollars of Iraqi debt so that the war-torn country can begin rebuilding in earnest.
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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.
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The Paris Club of creditor nations agreed on Sunday to cancel 80 percent of the debt Iraq owes its members, ending a trans-Atlantic dispute and
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WASHINGTON -- The United States yesterday forgave $4.1 billion Iraq owed it and urged other nations not part of an international debt relief agreement to follow suit.
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Russia agreed on Sunday to forgive up to 80 percent of Iraqâs debts to the Paris Club (about $33 billion). A US Treasury official quoted by Reuters said they received this information from Russia.
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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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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