Middle East Economic Survey


No 48


Paris Club Agrees Program To Cancel 80% Of Iraqs Debt

The Paris Club of creditor nations on 21 November concluded a comprehensive debt settlement deal with Iraq under which it has agreed to cancel 80% of the countrys debt. The deal is an important landmark in Iraqs reconstruction, and provides a benchmark which other debt-related negotiations are expected to follow. According to an official statement from the Paris Club, Iraqs debt to...