Kuwait, Saudi Arabia Prone To Waive Iraq Debt

World | January 22, 2004, Thursday // 00:00

Kuwait and Saudi Arabia told Wednesday the US Iraq-debt envoy that they were willing to begin talks over reducing debts owed by Iraq, the Lebanon Daily Star informed. However both states said this would be conditional on the election of a new, "legitimate" government in Baghdad. Iraq is estimated to owe Gulf states $45 billion, mostly money given it during its 1980-1988 war with Iran. Iraq insists the money from Riyadh and other Gulf states was given as grants.

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