Germany forgives most of Iraq&#39;s debt
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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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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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Russia agreed Sunday to join in an international agreement to forgive up to 80 percent of Iraq&#39;s foreign debt, allowing the deal brokered by German and US officials to go ahead.
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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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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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BERLIN  - The United States welcomed a &quot;milestone&quot; decision by the Paris Club of creditor nations to cut Iraq &#39;s debt by up to 80 percent, and called on other creditors to follow suit.
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Nineteen countries, including Australia, have agreed to cancel 80 per cent of the debt Iraq owes them. The deal secured for the Paris Club of creditor nations ends a trans-Atlantic dispute and probably sets
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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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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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More than a quarter of Iraq's foreign debt burden could be forgiven under a US-German proposal.
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Iraq&#39;s foreign debt will be reduced by 80% after a compromise deal was brokered between France, Germany and the USA in the framework of the Paris Club of creditors on 21 November.
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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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The United States will try to convince more of Iraq&#39;s creditors to forgive the country&#39;s debt, Treasury Secretary John Snow said on Friday.
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Bulgaria is reluctant to forgive much of a $1.7 billion debt that Iraq owes it, the Ministry of Finance said Monday.
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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 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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Iraq's debts to the Paris Club of creditor nations will probably not be cut by much more than half, a source close to the German government said.