Financial and Banking News
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Iraq Asks for Cyprus Debt Rescheduling
Iraq has asked Cyprus to reschedule $22mn worth of trade arrears over threeyears. The Iraqi proposal that $8mn should be paid in cash with the rest spreadover three years was made after rejecting a Cypriot proposal to link repaymentsto Cyprus' purchases of Iraqi oil. According to the Cypriot Minister of Commerceand Industry, no further exports from Cyprus to Iraq are possible until the...