US writes off $4.1bn in Iraq debt
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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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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 high cost of waging war is expected to swell the US budget deficit to $2.3-trillion (US) over the next decade, including a record $422-billion in the current fiscal year
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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
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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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UNITED STATES WASHINGTON -- The United States and its major economic allies struggled yesterday to resolve deep differences over how to relieve the heavy debt burden for Iraq and the world's poorest countries. Debt relief and broader topics of international finance topped the agenda for finance officials attending committee meetings of the International Monetary Fund and the World Bank. Treasury ...
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BERLIN, Nov. 20 -- Germany and the United States have agreed on a proposal to write off as much as 80 percent of Iraq's debt, Germany's finance minister said Saturday, following a months-long U.S. push for debt forgiveness.
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The deal will reduce Iraq&#39;s debt owed to the 19 Paris Club creditor nations by 80 percent, from a current $38.9 billion to $7.8 billion in 2008.
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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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Russia has agreed to write off $12bn (Â£6bn) of Iraqi debt built up by the Saddam Hussein regime.
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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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Major economic powers agreed in principle to write off billions of dollars of debt for Iraq ( news - web sites ), officials said Sunday, with France in particular agreeing to compromise as it seeks improved ...
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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 U.S. wars in Iraq and Afghanistan could cost taxpayers a total of $2.4 trillion by 2017 when counting the huge interest costs because combat is being financed with borrowed money, according to a study released on Wednesday.
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US President George W. Bush's administration weathered a pre-election mauling as it announced emergency measures to skirt a 7.38-trillion-dollar debt limit.
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BERLIN: The United States, Germany and other G7 nations agreed yesterday to write off up to 80 per cent or $33 billion of Iraq&#39;s Paris Club debt, which could pave the way for a wider international accord, officials said.
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The United States on Friday completely forgave &#36;4.1 billion in debt Iraq owed it and urged other nations not part of an international debt relief agreement to follow suit.