Iraq, China sign deal to write off 80% of debts

Iraq, China sign deal to write off 80% of debts

1/4/2010 – 18:22

BAGHDAD / Aswat al-Iraq: The Iraqi government signed in Beijing on Thursday an agreement with the Chinese government to write off 80% of Iraq’s debts due for China, according to a foreign ministry press release.

“Iraqi Finance Undersecretary Fadel Nabi Othman signed for Iraq while the secretary of the committee of companies indebting Iraq signed for China,” read the statement as received by Aswat al-Iraq news agency.

“The agreement was signed in light of memorandums of understanding signed by Iraqi President Jalal Talabani during his visit to China in June 2007,” it added.

Iraq has been seeking to have its debts $120 billion debts accumulated during the former regime’s time, some of them in compensations over was, be dropped. The war-torn nation has managed to have most of that sum – $55 billion due for the Paris Club members – dropped.

Iraq still owes debts to some Arab countries, including Gulf states, at $21 billion: $15 billion to Saudi Arabia and $6 billion to Kuwait.

AmR (P)

http://en.aswataliraq.info/wp-content/themes/s1/print.php?p=129548

Advertisements

1 Comment

Filed under Uncategorized

One response to “Iraq, China sign deal to write off 80% of debts

  1. Pingback: Iraq, China sign deal to write off 80% of debts » Iraqi Dinar News

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s