Hungary writes off 80 percent of Iraqi debts

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BAGHDAD, April 6 (KUNA) -- Iraqi Ambassador in Hungary and Hungarian Finance Minister Janos Verese signed a bilateral agreement writing off 80 percent of Iraq's debt to Hungary, the Iraqi government announced Thursday.

The agreement was signed in the Hungarian finance ministry in Budapest Wednesday, a government statement said.

Iraq's total debt to Hungary is USD 229 million.
http://www.kuna.net.kw/Home/Story.aspx?Language=en&DSNO=848753

[BIG WAVE]

Thursday 4 May 2006
"Iraq welcomes the conclusion of another bilateral agreement with one of Iraq's non-Paris Club creditors," said Iraq's Minister of Finance Ali A. Allawi. "Iraq appreciates Hungary's constructive approach to reaching this agreement."

Iraq expects that similar bilateral agreements with governmental creditors that are not members of the Paris Club will be signed in the coming weeks.
http://www.prnewswire.co.uk/cgi/news/release?id=170047

[BIG WAVE]

Australia Cancels 80% of Its Iraqi Debt

BAGHDAD, Iraq--(BUSINESS WIRE)--May 11, 2006--The Government of Iraq today announced that it has signed a bilateral agreement with Australia canceling the equivalent of U.S.$856 million of Iraqi debt, amounting to 80% of Australia's claims against Iraq. The bilateral agreement implements the Agreed Minute concluded in November 2004 between Iraq and eighteen Paris Club creditor countries.
http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20060511005854&newsLang=en