Paris Club Agrees on Iraq Debt Reduction
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Iraqis chant anti-US and anti-government slogans in front of a US tank after a car bomb exploded killing at least one person in central Baghdad Saturday, Nov. 20, 2004.
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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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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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WASHINGTON - The United States signed an agreement with Iraq on Friday to forgive 100 percent of the $4.1 billion debt Iraq owes it, and urged other nations to follow suit to help the war-torn nation.
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Major economic powers agreed on Sunday to write off billions of dollars of debt for Iraq in a deal that marked a significant step in U.S. efforts to help put the Iraqi economy back on its feet.
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BERLIN: German construction firms yesterday slammed plans by the Paris Club of creditor nations to wipe out 80 per cent of Iraq&#39;s debt, warning that individual companies might seek to seek legal action against the German government to protect their claims
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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
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BERLIN  -Germany's finance minister said Saturday that he and his U.S. counterpart have reached an agreement under which Iraq's creditors would write off up to 80 per cent of the country's debt.
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BERLIN : 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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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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The United States on Sunday applauded the decision by the Paris Club on slashing Iraq&#39;s debts and urged other countries to follow suit.
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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.
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The Paris Club of creditors met on Sunday to finalise 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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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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More than a quarter of Iraq's foreign debt burden could be forgiven under a US-German proposal.
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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 Paris Club is due to approve on Wednesday a moratorium on debt repayment for countries hit by the Asian tsunami disaster, French Finance Minister Herve Gaymard said.