No 21



G8 Ministers Reject Iraq Debt Write-Off But Agree To Deferred Repayment

Finance Ministers of the G8 countries meeting in Deauville, France on 17 May rejected the idea of writing off Iraqs debts, but agreed that they did not expect Iraq to start any debt repayments before the end of 2004 at the earliest, according to US Treasury Secretary John Snow. The US (which is not owed any significant amount by Iraq) has been pushing for creditor countries including Russia and...