VOL. XLVII

No 01

5-January-2004

IRAQ RECONSTRUCTION

And Arab Creditors Will Only Negotiate Debt Relief With A Sovereign Government

Saudi Arabias Foreign Minister, Prince Saud al-Faisal, said on 23 December that Arab creditors would only negotiate debt relief with a sovereign government in Baghdad and not with the US-appointed Governing Council. Considerable controversy surrounds the approximately $40bn Gulf debt, as the Iraqi authorities are asserting that most of the money given lacks clear...