G7 states to write off $33 billion Iraqi debt
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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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Nineteen countries, including Australia, have agreed to cancel 80 per cent of the debt Iraq owes them. The deal secured for the Paris Club of creditor nations ends a trans-Atlantic dispute and probably sets
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The Paris Club of creditors met on Sunday  to finalize an agreement on writing off debts owed to its 19  member countries by Iraq -- a deal which could pave the way for  a wider international accord.
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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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Major creditor nations of Iraq reached an agreement here on Saturday to write off 80 percent of the country&#39;s debts, officials said.
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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
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At meetings of the World Bank and the International Monetary Fund the French said non to the US proposal of writing off 90-95 per cent of Iraqâs $12bn of bilateral debt.
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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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The deal is part of a new international agreement to forgive 80 per cent of Iraq&#39;s international debt, amounting to a total of about $150 billion.
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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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The Paris Club of creditor nations, except for Russia, agreed on Sunday to relieve Iraq of as much as 80 percent of the debts it owes them.
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WASHINGTON: The Bush administration has agreed to write off Iraq&#39;s debts to Washington of $4.1 billion, racked up during the regime of Saddam Hussein.
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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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Four fifths of Iraq&#39;s foreign debts are to be written off, under a deal reached at the weekend. The country&#39;s interim government has been complaining that the level of its debt is hampering its reconstruction.
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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 $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 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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Major economic powers agreed Sunday to write off more than $31 billion in debt for Iraq in a deal that boosted U.S. efforts to help put the Iraqi economy back on its feet.