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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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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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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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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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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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 in the United States' push to ease the financial burden on the ...
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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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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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Britain has announced it is ready to write off a substantial portion of debt owed by the world&#39;s poorest countries. Britain&#39;s Finance Minister, the Chancellor of the Exchequer, Gordon Brown, has told a meeting
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The Paris Club of creditor nations on Saturday discussed a plan to write off about 80 percent of Iraq&#39;s debts. According to The AP, US Treasury Secretary John Snow and German Finance Minister Hans Eichel concluded
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The Bush administration formally canceled Iraq&#39;s $4.1 billion debt to the United States on Friday and urged others to do the same to help the country rebuild.
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Germany&#39;s finance minister said Saturday that he and his US counterpart have reached an agreement under which Iraq&#39;s creditors would write off up to 80 per cent of the country&#39;s debt.
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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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The Spanish government announced here Monday that it will write off 80 percent of Iraq's debt, or 482 million US dollars, to help rebuild the war-torn country.
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Key creditor nations reportedly approve a plan to slash Iraq's debts, as an election date is announced.
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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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Major economic powers agreed in principle to write off billions of dollars of debt for Iraq, officials said Sunday, with France in particular agreeing to compromise as it seeks improved ties with the United States.