Germany announces international plan to slash Iraqi debt
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BERLIN, Nov 20  - Germany on Saturday unveiled a breakthrough international plan to wipe out tens of billions of dollars of Iraqi debt so that the war-torn country can begin rebuilding in earnest.
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17 December 2004 (NCA) -- The United States formally wrote off all of its $4.1 billion in Iraqi debt and urged other nations to follow the example.
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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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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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More than a quarter of Iraq's foreign debt burden could be forgiven under a US-German proposal.
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The Paris Club of international creditors has agreed to cancel 80 percent of the debt Iraq owes member countries. Officials say the deal, brokered in Berlin, is worth about $33 billion.
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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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Germany&#39;s finance minister said Saturday that he and his US counterpart have reached an agreement under which Iraq&#39;s creditors would write off up to 80 per cent of the country&#39;s debt.
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The Paris Club of creditor nations, except for Russia, has agreed in principle to slash debts Iraq owes to the group by up to 80 percent, an official said Sunday.
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BERLIN  -Germany's finance minister said Saturday that he and his U.S. counterpart have reached an agreement under which Iraq's creditors would write off up to 80 per cent of the country's debt.
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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 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 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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Paris - The Paris Club of creditor nations, with the exception of Russia, has reached an agreement in principle to slash debts Iraq owes to the group by up to 80%, a well-placed official said on Sunday.
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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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BERLIN: German construction firms yesterday slammed plans by the Paris Club of creditor nations to wipe out 80 per cent of Iraq&#39;s debt, warning that individual companies might seek to seek legal action against the German government to protect their claims
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Major economic powers agreed Sunday to write off more than $31 billion in debt for Iraq in a deal that boosted U.S. efforts to help put the Iraqi economy back on its feet.