Middle East Economic Survey
US Writes Off Iraqs $4.1Bn Debt, Urges Other Nations To Follow Suit
The US has officially written off all of Iraqs $4.1bn debt and urged non-Paris Club creditors to Iraq to follow suit. US Secretary of State Colin Powell, US Treasury Secretary John Snow and Iraqi Finance Minister 'Adil 'Abd al-Mahdi on 17 December signed the agreement at a ceremony held in Washington. The Paris Club recently agreed to forgive 80% of the...