Plan Cancels Some of Debt Owed by Iraq
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Germany and the United States have agreed on a proposal to cancel 80 percent or about $33 billion of the debt owed by Iraq to a group of creditor nations known
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The US has written off on Friday all of its $4.1bn in Iraqi debt and called on other nations to follow suit. At a ceremony in Washington to mark the move, US Secretary of State Colin Powell hailed the move
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The Paris Club of creditor nations was considering on Saturday a plan to relieve Iraq of as much as 80 percent of the debts it owes them.
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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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BERLIN/PARIS  - The United States and Germany  brokered a multi-national agreement on Saturday to forgive up  to $33 billion of Iraq's debts, helping mend ties strained by  the Iraq war.
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The inspector general for Iraq&#39;s reconstruction yesterday threw his weight behind withholding some payments from Halliburton Co.
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A deal to forgive a large chunk of Iraq&#39;s external debt could finally be announced this week after key creditor nations came to an agreement at the weekend ending months of stalemate.
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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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Russia agreed on Sunday to forgive up to 80 percent of Iraqâs debts to the Paris Club (about $33 billion). A US Treasury official quoted by Reuters said they received this information from Russia.
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WASHINGTON -- The United States yesterday forgave $4.1 billion Iraq owed it and urged other nations not part of an international debt relief agreement to follow suit.
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A French Finance ministry spokesman said the Paris Club of creditor nations had reached deal Sunday to write off 80 percent of the debts Iraq owes them.
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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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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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Iraq hopes to reach a debt forgiveness deal with leading creditor nations by the end of the year, and views as a "starting point" a proposal by France to initially relieve 50 percent of its debt, Iraq's Finance Minister said on Tuesday.
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The United States on Friday completely forgave &#36;4.1 billion in debt Iraq owed it and urged other nations not part of an international debt relief agreement to follow suit.
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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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Iraq will owe Russia between US$700 million (euro530 million) and US$1 billion (euro750 million) after the bulk of its debt is forgiven under a deal with international creditors, Finance Minister Alexei Kudrin was quoted as saying Monday.