Paris Club cuts 80 percent of Iraq&#39;s debt
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The Paris Club announced Sunday that its member countries agreed to cut 80 percent of the debts Iraq owes them and called on other creditors to follow suit.
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(Paris-AP) Nov. 21, 2004 - The Paris Club has taken a big step forward for US efforts to help the Iraqi economy get back on its feet.
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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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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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Key creditor nations reportedly approve a plan to slash Iraq's debts, as an election date is announced.
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US President George Bush today applauded the decision by the so-called Paris Club of creditor nations to slash 80 per cent of the money Iraq owed them and urged non-member countries to do the same.
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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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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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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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PARIS -- Major economic powers agreed yesterday to write off billions of dollars in Iraqi debt, a deal that marked a significant step in US efforts to help put that nation's economy back on its feet.
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Creditor nations, with the exception of Russia, reportedly approve a plan to slash Iraq's debts.
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BERLIN/PARIS: Russia agreed overnight (NZT) to back an agreement to forgive up to 80 per cent, or about $US33 billion ($NZ47.32 billion) worth, of Iraq&#39;s debts to the Paris Club of creditors, paving the way for further such write-offs by other countries.
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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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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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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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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 in the United States' push to ease the financial burden on the ...
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Iraq cleared around &#36;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.