Swiss write off most of Iraq&#39;s debts
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The State Secretariat for Economic Affairs (Seco) said Switzerland had agreed to write off SFr264 million ($227 million) in debts dating back to the 1970s and 1980s.
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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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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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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 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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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.
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The deal is part of a new international agreement to forgive 80 per cent of Iraq&#39;s international debt, amounting to a total of about $150 billion.
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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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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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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 International Monetary Fund said  on Wednesday Iraq's official bilateral creditors had agreed to  defer debt the country owes them until the end of 2005.
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Britain has announced it is ready to write off a substantial portion of debt owed by the world&#39;s poorest countries. Britain&#39;s Finance Minister, the Chancellor of the Exchequer, Gordon Brown, has told a meeting
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Germany has unveiled an international plan to wipe out tens of billions of dollars of Iraqi debt so that the war-torn country can rebuild in earnest.
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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.
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China announced with great flourish this week that it is forgiving debt owed by Iraq. But with the Iraqi president set to hold talks Friday with the Chinese premier, it was still unclear how much debt has been written off.
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Britain announced Sunday it would unilaterally write off its share of debts owed to the World Bank by the world&#39;s poorest countries.
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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.