VOL. XLVI

No 25

23-June-2003

IRAQ

IRAQ RECONSTRUCTION

Perle Advocates Forgiveness Of Iraqs Commercial Debt As Lesson In Moral Hazard

Richard Perle, the former chairman of the Pentagons Defense Policy Board, has called for the complete forgiveness of Iraqs national debt estimated at $100-130bn including commercial debts owed to foreign banks. Such a move, he says, would teach banks a lesson about the moral hazardof lend[ing] to a vicious dictatorship. Mr Perle has also said that to ask the...