Nations Agree to Write Off Iraq&#39;s Debt
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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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Amid renewed violence, major creditor nations of Iraq reached an agreement Saturday in Berlin to write off 80 percent of Iraq&#39;s debts to help rebuild thewar-torn country.
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THE administration of US President George W Bush will agree to write off the $US4.1 billion ($5.4 billion) worth of debt Iraq racked up during the regime of Saddam Hussein.
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Germany&#39;s finance minister has said he and his American counterpart have worked out a deal to write off 80 percent of Iraq&#39;s $120 billion foreign debt.
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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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German officials said Saturday they have decided to forgive 80 percent of Iraq&#39;s $120 billion foreign debt, CNN reported. Hans Eichel, Germany&#39;s finance minister, meeting with finance
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The Paris Club of creditor nations, except for Russia, has agreed in principle to slash debts Iraq ( news - web sites ) owes to the group by up to 80 percent, an official said Sunday.
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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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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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The United States and its G7 allies have reached agreement on a deal to forgive 80% of Iraq's huge debts without imposing any conditions, a G7 official said on Saturday.
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Major creditor nations of Iraq reached an agreement here on Saturday to write off 80 percent of the country&#39;s debts, officials said.
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Major economic powers agreed Sunday to write off more than &#36;31 billion in debt for Iraq in a deal that boosted U.S. efforts to help put the Iraqi economy back on its feet.
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The United States, Germany and other G7 nations agreed on Saturday to write off up to 80 percent of Iraq&#39;s $120 billion foreign debt in a move that could
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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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The world&#39;s major economic powers were far apart Saturday on agreeing how to provide debt relief for Iraq and the poorest nations, as finance officials began broader discussions about the global economy.
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BRITAIN is to write off its share of debts owed by the worldâs poorest countries to the World Bank, Chancellor Gordon Brown will announce tomorrow.
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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.