80% of Iraq Debt to be forgiven !!!!!!!

[BRYAN]

http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2004/11/20/financial0605EST0002.DTL

:happy64: :happy64: :happy64:

That is very good news this morning !!!

[mb55tech]

That is very good news this morning !!![/QUOTE]


:happy64: i got two words for ya dude!!!! HELL YEAH!!!!!! :happy64:

[mike55]

Now if the rate would be tied to a basket of sorts.. dollar, euro, oil.....???

[MEALTICKET]

THE GOOD THING OF ALL THIS CHAOS IS THOSE TERRORIST ARE RUNNING OUT OF THE DAM BACK HOLES ALL OVER THE PLACE. THUR BAGHDAD THERE WAS ATTACKS LIKE I NEVER HEARD. I MUST SAY WITH HUMBLE VOICE I HAVE NOT HEARD ANY OIL LINES BEING SABOTAGED LATELY!! :no: :no: :shhh:
SO WHERE DOES THIS LEAVE US WITH THAT IN MIND AND KOFI ON THE ROPES IN THE UN WITH A 80% AGREED UPONED :happy64: :
MAYBE WITH A OPENING BELL OF .2 OR AFTER REPERATIONS PAID TO IRAQ .32

[JeffP]

Don't get to excited :no:

http://www.jubileeiraq.org/blog/

In an update a few minutes ago, Reuters clarified that Eichel comments were just an offer on the table which will be put to delegates in Paris, not a final agreed deal. A source in Paris said: "There's no deal yet." Reuters writes: "G20 sources said there was still a disagreement about the timetable for debt reduction and conditions. One G20 source said the debt write off would take place over eight years, but another said that was a timetable that was unacceptable to the United States."

[BRYAN]

I'm sure the Paris Club members will milk this as long as they can ...

[Weston]

they probly waiting to see what happens in Fallujah / Mosul and the road to the elections

[kamoda28]

another interesting link!
http://www.canada.com/national/nationalpost/news/story.html?id=53827190-ad2e-4fb5-8033-4f5c135100e1

[messiah]

Same info, different presentation.

http://story.news.yahoo.com/news?tmpl=story&cid=1503&ncid=1503&e=7&u=/afp/20041120/ts_afp/g20_economy_bank_forex_041120115618

[Lux]

in the right direction, but there is still a ways to go. Paris Club debt represents 1/3 of Iraq's $120 billion debt. 80% of $42 billion is almost $34 billion, which puts them under $100 billion. Even if the other creditor nations give them 80%, we are still looking at a bill over $20 billion (not including reparations).

Still. it's a very good day in NID History and worth a sip of champagne as Paris has laid the groundwork. Let's hope other creditors follow suit. :happy64:

French presidential spokesman Jerome Bonnafont this week said the time had come to make a "significant gesture" toward Iraq but added that Paris believed "it is necessary that this gesture remain proportional with what is being done for the world's poorest countries."
He said Iraq's other creditors should make similar moves to ensure that the debt relief initiative contributes to Iraq's reconstruction.
Iraq's debt to other countries, in particular its Gulf Arab neighbors and former Soviet-bloc states such as Bulgaria and Romania, amounts to about 60 billion dollars.
Private creditors such as banks and infrastructure suppliers hold 20 to 30 billion dollars of Iraqi debt.

http://story.news.yahoo.com/news?tmpl=story&cid=1503&ncid=1503&e=7&u=/afp/20041120/ts_afp/g20_economy_bank_forex_041120115618

Germany's finance minister Hans Eichel said today: ''I had talks with my American colleague, John Snow, which created the basis on which the forgiveness of Iraqi debt can be settled mutually in the Paris Club. We agreed that there should be a write-off of debts in several stages amounting to 80% in total." 30% would be written off immediately, another 30% in a second stage ''tied to a program of the International Monetary Fund'' and a further 20% ''linked to the success of this program. Within this framework, the necessary decisions can now be taken in the Paris Club.'' He also added that: "by doing this we see a special situation for Iraq. This does not create a precedent for any other case.'' Reuters adds that a G20 source said that debt relief would be phased over an 8 year period.

This deal is a further crime from the creditors who financed Saddam's oppression. Assuming all non-Paris Club creditors agree to the 80% reduction, which is far from certain, Iraq would still be shackled with over $25bn of debt, not to mention new loans being peddled by the IMF and World Bank, and the $31bn reparations awarded so far. Almost all of the debt is odious, and should be written off entirely, immediately and uncondionally, not partially, over 8 years and based on dangerous IMF conditions.

http://www.jubileeiraq.org/blog/2004_11.html#000685

[JeffP]

A source at the Paris Club of creditors told Reuters that the deal was likely to be finalized Sunday, adding: "There is an agreement between the main creditors on (cancelling) 80% of the debt." A US official said: "The discussion in the Paris Club is now more on the technical side... and we expect things will be wrapped up soon."

http://www.jubileeiraq.org/blog/

[krachon]

A source at the Paris Club of creditors told Reuters that the deal was likely to be finalized Sunday, adding: "There is an agreement between the main creditors on (cancelling) 80% of the debt." A US official said: "The discussion in the Paris Club is now more on the technical side... and we expect things will be wrapped up soon."

http://www.jubileeiraq.org/blog/

Its beginning to look alike like Christmas :happy64: :happy64: :happy64:

[messiah]

http://news.yahoo.com/news?tmpl=story&u=/nm/20041120/wl_nm/iraq_debt_dc_14

[fomoco dinarco]

That is very good news this morning !!!


:happy64: i got two words for ya dude!!!! HELL YEAH!!!!!! :happy64:[/QUOTE]


I've got THREE words for you.......HELL YEAH, DUDE!!! :wave: :happy64:

ching!!!!$$$$$

[bottlebush]

Think I might pee my pants >"< when it hits
No problem
I can buy new ones :lmao:

[RET]

And I thought the smile on my face couldn't get any bigger!!!!! :D

Just a tad exciting ..... :happy64: :happy64: :happy64:

[bottlebush]

And I thought the smile on my face couldn't get any bigger!!!!! :D

Just a tad exciting ..... :happy64: :happy64: :happy64:
Just a TAD??
AAAHHHHHHH yup
1 dinar =$3usd
Now that would excite the neighbors cat

[fomoco dinarco]

Just a TAD??
AAAHHHHHHH yup
1 dinar =$3usd
Now that would excite the neighbors cat

It excites my cats as well. :happy64:

[Okie]

A source at the Paris Club of creditors told Reuters that the deal was likely to be finalized Sunday, adding: "There is an agreement between the main creditors on (cancelling) 80% of the debt." A US official said: "The discussion in the Paris Club is now more on the technical side... and we expect things will be wrapped up soon."

http://www.jubileeiraq.org/blog/


in from Reuters news:

Efforts to foster prosperity in a oil-rich country left in poverty by years of wars and U.N. sanctions took a step forward at the weekend when creditor nations in the Paris Club agreed to forgive up to 80 percent of Iraq's debts to them, paving the way for others to follow. Iraq has debts of about $125 billion.

Foreign ministers from countries which opposed last year's U.S. invasion, including France, Iran and Syria, will meet Secretary of State Colin Powell and others at the Egyptian resort of Sharm el-Sheikh on Monday to discuss Iraq's future.

[rooken1961]

in from Reuters news:

Efforts to foster prosperity in a oil-rich country left in poverty by years of wars and U.N. sanctions took a step forward at the weekend when creditor nations in the Paris Club agreed to forgive up to 80 percent of Iraq's debts to them, paving the way for others to follow. Iraq has debts of about $125 billion.

Foreign ministers from countries which opposed last year's U.S. invasion, including France, Iran and Syria, will meet Secretary of State Colin Powell and others at the Egyptian resort of Sharm el-Sheikh on Monday to discuss Iraq's future.


This is Sadam's debt not their's why are they worring about it? :lmao: