International Creditors to Cancel Most Iraqi Debt
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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 - Major economic powers agreed to write off $31 billion of Iraqi debt yesterday in a major breakthrough for US-led efforts to get Iraq&#39;s economy back on its feet.
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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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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 -- 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 yesterday, capping a months-long US push for debt forgiveness.
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Get INQ7 breaking news on your Smart mobile phone in the Philippines. Send INQ7 BREAKING to 386. SYDNEY, Australia -- The last remaining Australian aid agency in Iraq announced Friday it is pulling out following
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China announced with great flourish this week that it is forgiving debt owed by Iraq. But with the Iraqi president set to hold talks Friday with the Chinese premier, it was still unclear how much debt has been written off.
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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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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 &#36;120 billion foreign debt in a move that could pave the way for a wider international accord, officials said.
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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.
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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 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.
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BERLIN, Nov 20  - Germany on Saturday unveiled a breakthrough international plan to wipe out tens of billions of dollars of Iraqi debt so that the war-torn country can begin rebuilding in earnest.
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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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RUSSIA finally signed up yesterday to an agreement between 19 nations to write off $33 billion (Â£17.8 billion) of Iraqâs debt. The agreement was confirmed by a US Treasury official at
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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.