Deal nears on Iraq debt write-off
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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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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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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.
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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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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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BERLIN: The United States, Germany and other G7 nations agreed yesterday to write off up to 80 per cent or $33 billion of Iraq&#39;s Paris Club debt, which could pave the way for a wider international accord, officials said.
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Iraq&#39;s main creditors at the Paris Club have reached an agreement to cancel 80 percent of the debt owed to them by Baghdad, a Paris Club source said Saturday.
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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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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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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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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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PARIS/BERLIN  - The Paris Club of creditor nations  agreed on Sunday to cancel 80 percent of the debt Iraq owes its  members, ending a transatlantic dispute and probably setting  the framework for debt pardons from other creditors.
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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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RUSSIA today agreed to join a pact to forgive up to 80 per cent, or about $US33 billion ($42.44 billion) worth, of Iraq&#39;s debts, a US Treasury official said at a Group of 20 meeting where the multinational agreement was engineered.
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WASHINGTON The White House and lawmakers are getting close to agreement on a 388 (b) billion-dollar spending measure that could be ready for votes today.
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Key creditor nations reportedly approve a plan to slash Iraq's debts, as an election date is announced.
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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.