[lbo-talk] Iraq debt to be cancelled?

H. Curtiss Leung hncl at panix.com
Sat Apr 12 20:47:26 PDT 2003


There's a paper at

http://www.csis.org/isp/wiserpeace_I.pdf

That breaks down all of Iraq's foreign obligations. Russia has a decent chunk of debt--$12 billion in principal and interest on top of that if I'm reading the charts correctly--and even more in pending business, but France only has a piddly $73 million in pending business. Germany doesn't hold debt or have business with Iraq.

The biggest foreign obligations against Iraq are unsettled claims from the Gulf War.

I don't know how authoritative these figures are. They may just be a best guess

Curtiss


>
> "The Iraq issue was further complicated when Deputy U.S. Defense
> Secretary Paul Wolfowitz told Congress on Friday that France, Germany
> and Russia, countries that opposed the U.S.-led invasion of Iraq, could
> only assist in rebuilding the country if they forgave billions of
> dollars of debt owed to them."
>
>
> Does anyone know how much is owed to each of Iraq's major creditors? Is
> the majority of this debt owed to European nations?
>
>
>
>
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