Middle East Economic Survey


No 46



China To Forgive Iraqi Debt

China has reportedly agreed to forgive 80% of the $8.47bn in debt owed by Iraq, finalizing a preliminary deal made in 2007 during a visit to China by Iraqi President Jabal Talabani. China is one of the largest outstanding creditors to Iraq, alongside Kuwait and Saudi Arabia, both of which appear to be taking similar measures. In July, Kuwait was reported to be considering exempting Iraq from further reparations...