Paris Club Agrees on Iraq's Debt Relief

Politics | November 20, 2004, Saturday // 00:00

The United States, Germany and other G7 nations agreed Saturday to write off up to 80% or USD 33 B of Iraq's Paris Club debt, which could pave the way for a wider international accord, officials said.

The accord with the Paris Club may help Iraq to receive about USD 8 B in aid from the International Monetary Fund and the World Bank. The Arab country ran up about USD 125 B in debt under Saddam Hussein.

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