The United States, France and Germany have agreed on a plan to provide the fledgling Iraqi government with "substantial" debt relief
Published:
17 December 2003 y., Wednesday
The United States, France and Germany have agreed on a plan to provide the fledgling Iraqi government with "substantial" debt relief, according a joint statement issued by the three governments.
The amount of the debt reduction will be subject to "future agreement" between the countries, the statement, released Tuesday, said.
"France, Germany and the United States agree that there should be substantial debt reduction for Iraq in the Paris Club in 2004 and will work closely with each other, and with other countries, to achieve this objective."
The Paris Club, an informal group of 19 creditor nations, has been discussing ways to relieve the debt burdens of debtor nations, including Iraq, which owes about $40 billion in principal and back interest to Paris Club countries.
The joint announcement came after U.S. President George W. Bush's special envoy for Iraq reconstruction, James Baker, met with French and German officials, amid encouraging signs that both countries -- who opposed the U.S.-led war in Iraq -- were willing to help the newly liberated country get out from under some of the $120 billion debt run up by deposed dictator Saddam Hussein.
Šaltinis:
cnn.com
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In European sustainable energy week 2010, new EU energy commissioner presents strategy to reduce Europe’s dependence on fossil fuel.
more »
The EBRD is launching a Project Complaint Mechanism, which is expected to enhance the accountability and transparency of the Bank’s operations.
more »
The EBRD is boosting the availability of local currency financing in Armenia with a synthetic loan in Armenian Drams (AMD) worth $4 million to FINCA UCO CJSC for on-lending to local micro and small enterprises (MSEs).
more »
This year is the UN year of biodiversity and it brings endangered species into the spotlight.
more »
The World Bank Board of Directors today approved a US$65 million project to support the recovery of Haiti’s critical infrastructure as well as the reestablishment of basic State functions following the devastating 7.0 magnitude earthquake on January 12, 2010.
more »
Haiti’s arduous reconstruction and recovery process jolted forward today following fresh commitments to help the Caribbean nation rebuild in the wake of its devastating January 12 earthquake.
more »
A mission from the African Department of the International Monetary Fund (IMF) visited Uganda during March 4-17, 2010, to conduct the seventh and final review under Uganda’s Policy Support Instrument (PSI) and reach understandings on a policy framework for a new three-year PSI to cover the period 2010 to 2013.
more »
The European Economic and Social Committee (EESC), as the first EU institution, rose to the challenge of providing a comprehensive vision for the future of the Common Agriculture Policy (CAP), in advance of the European Commission's papers on the matter, due to be issued later this year and in 2011.
more »
The outlook for primary energy supplies, heat, and electricity is questionable for the Eastern Europe and Central Asia region, despite Russia and Central Asia’s current role as a major energy supplier to both Eastern and Western Europe.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 36-month, SDR 513.9 million (about US$790 million) Stand-By Arrangement (SBA) for El Salvador to help the country mitigate the adverse effects of the global crisis.
more »