Italy writes off 80 percent of Iraq''s debts

[arh777]

Italy writes off 80 percent of Iraq''s debts

ECO-ITALY-IRAQ-DEBT
Italy writes off 80 percent of Iraq's debts

ROME, Oct 5 (KUNA) -- Italy on Wednesday said it has written off 80 percent of the 2.4 billion Euro debt owed by Iraq.

http://www.kuna.net.kw/home/Story.as...en&DSNO=776251

[ramis]

Great news, but Kuwait and Saudi Arabia have not made any commitment on debt writeoff, I believe.

[myranchretirement]

Italy writes off 80 percent of Iraq''s debts

ECO-ITALY-IRAQ-DEBT
Italy writes off 80 percent of Iraq's debts

ROME, Oct 5 (KUNA) -- Italy on Wednesday said it has written off 80 percent of the 2.4 billion Euro debt owed by Iraq.

http://www.kuna.net.kw/home/Story.as...en&DSNO=776251

Euro write off. This is good. Thats what 3 billion dollars? So they wiped out 2.5 billion dollars or so.

[Lux]

This is Paris Club debt. They simply bypassed the IMF program and wrote it off like the US did.