Deal nears on Iraq debt write-off
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Some members of the Paris Club of creditor nations agree to forgive 80% of Iraq's debt at the G20 summit in Berlin.
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Major economic powers agreed to write off $31 billion of Iraqi debt on Sunday in a major breakthrough for US-led efforts to get Iraq&#39;s economy back on its feet.
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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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PARIS/BERLIN  - 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 probably setting  the framework for debt pardons from other creditors.
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Bulgaria's President suggested Sunday Bulgaria could write off some of a $1.7-billion debt that Iraq owes it, days after the government ruled out any such reductions.
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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 world's economic powers, ending three days of meetings, insisted Sunday they are moving closer to a deal on debt relief for Iraq and poor nations even though an agreement has proved elusive.
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Paris - The Paris Club of creditor nations, with the exception of Russia, has reached an agreement in principle to slash debts Iraq owes to the group by up to 80%, a well-placed official said on Sunday.
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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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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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As a result of talks the Paris Club has arrived at a consolidated decision to write off 80 per cent of Iraq&#39;s debt, Russian Finance Minister Aleksey Kudrin told journalists on Sunday [21 November].
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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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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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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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A deal to forgive a large chunk of Iraq&#39;s external debt could finally be announced this week after key creditor nations came to an agreement at the weekend ending months of stalemate.
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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
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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.