VOL. XL
No. 39
29-September-1997
IRAQ
Iraqi Pre-Invasion Debt Tops $70Bn
A former Iraqi finance official, Mr. Ahmad Jiyad, has estimated the present value oftotal pre-invasion Iraqi external debt owed to OECD and other countries at $72.2bn.Speaking at an Exeter University seminar in July, Mr. Jiyad said that total debt datingfrom the period before the invasion of Kuwait but excluding elements owed to GCC states(which he, along with the current Iraqi Government, treats as grants) was $42.1bn....
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