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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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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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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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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Germany&#39;s Finance Minister Hans Eichel said Saturday he and US Treasury Secretary John Snow had agreed on a proposal to write off as much as 80 percent of
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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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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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Russia has agreed to write off $12bn (Â£6bn) of Iraqi debt built up by the Saddam Hussein regime.
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BERLIN : 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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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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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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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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Amid renewed violence, major creditor nations of Iraq reached an agreement Saturday in Berlin to write off 80 percent of Iraq&#39;s debts to help rebuild thewar-torn country.
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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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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 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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The United States, Germany and other G7 nations have agreed to write-off up to 80% of Iraq&#39;s so-called Paris Club debt. The agreement was made on the sidelines of the G20 meeting of rich and developing nations