Deal nears on Iraq debt write-off
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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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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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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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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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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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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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Creditor nations, with the exception of Russia, reportedly approve a plan to slash Iraq's debts.
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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
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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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As a result of talks the Paris Club has arrived at a consolidated decision to write off 80 per cent of Iraq&#39;s debt, Russian Finance Minister Aleksey Kudrin told journalists on Sunday [21 November].
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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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Bulgaria is reluctant to write off a US$1.7 billion (euro1.3 billion) debt it is owed by Iraq, despite mounting international pressure on Iraq&#39;s creditors to agree on substantial debt reduction, officials said Monday.
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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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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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Finance chiefs from leading industrialized countries must bridge a transatlantic rift over how much of Iraq's foreign debt to write-off if they are to make progress toward a deal at a meeting this week.
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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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A French finance ministry spokesman said the Paris Club of creditor nations had reached a deal yesterday to write off 80 per cent of the debts Iraq owes them.