Middle East Economic Survey

VOL. XLVII

No 24

14-June-2004

IRAQ RECONSTRUCTION

G8 Nations Fail To Agree On Iraq Debt Reduction Target

The Group of Eight leading industrialized nations (G8) meeting in the US on 9 June said that while there is agreement on the need to forgive a large proportion of Iraqs approximately $120bn debt, no consensus was reached on the specific level of reduction. In a statement on the groups Middle East plan, the G8 said that debt reduction is critical if the Iraqi people...