US, Germany Agree On Iraqi Debt Write-Off
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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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More than a quarter of Iraq&#39;s foreign debt burden could be forgiven after a framework agreement was reached by two of the country&#39;s main creditors.
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China Thursday signed an agreement to cancel Iraqi debt at a ceremony after a meeting between Chinese President Hu Jintao and his Iraqi counterpart Jalal Talabani.
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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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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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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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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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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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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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Russia agreed Sunday to join in an international agreement to forgive up to 80 percent of Iraq&#39;s foreign debt, allowing the deal brokered by German and US officials to go ahead.
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Snow, Powell and Iraqâs Finance Minister Adil Abdul al-Mahdi signed the agreement in a ceremony at the State Department. &#39;Second liberation&#39; Al-Mahdi thanked the US government and its people, describing
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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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US President George W. Bush hailed the Paris Club agreement to write off 80 percent of Iraq&#39;s debt and called on other nations to join as well.
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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 transatlantic dispute and probably setting  the framework for debt pardons from other creditors.
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US President George W. Bush on Sunday hailed an agreement by the Paris Club of creditor nations to cancel 80 percent of Iraq&#39;s debt and called on other nations to join in as well.
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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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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.