Middle East Economic Survey


No 28



UAE Cancels $4Bn In Iraqi Debts

The UAE has written off $4bn of Iraqi debts and interest, UAE President Shaikh Khalifa bin Zayid al-Nuhayyan announced on 6 July. The UAE has also decided to re-open its embassy in Baghdad, he added. On the other hand, the Kuwaiti members of parliament (MPs) warned the Kuwaiti government against writing off Iraqs debts, arguing that the priority would be to cancel the debts of the Kuwaiti population. In...