Issawi: Iraq demands to bring down its debt on Arab Summit sidelines
Said Iraqi Finance Minister Rafie al-Issawi said Iraq has asked the participating countries at the top of Baghdad on Tuesday to exempt Baghdad
Of the debt owed them before the invasion led by the United States, and the consequent occupation in 2003.
He appealed to other countries Issawi creditor to follow the example of the UAE and Algeria, which agreed to drop their debts owed by Iraq.
He said al-Issawi, the first day of the summit, which is sponsored by the Arab League, and the first held in Iraq for several years: "We have asked Saudi Arabia, Kuwait, Qatar, Libya, Jordan, Sudan, Egypt and Morocco to help Iraq to shut down file his debts."
The member states of the Paris Club, composed of 19 rich nations, had agreed in 2004 to drop 80 percent of its debt to Iraq, estimated at up to $40 billion to help him to recover after the invasion and occupation, which shot down the regime of former Iraqi President Saddam Hussein, and the subsequent years of sectarian war and bloody violence.
Issawi said: "It needs more cooperation from Arab countries on the subject of debt forgiveness," and expressed his thanks to the UAE and Algeria, for agreeing to drop all of their debts owed by Iraq.
And began to Baghdad summit, which takes three days and the first in Iraq for nearly two decades, and the first hosted by the Shi'ite leader in Iraq's modern history is the Prime Minister Nuri al-Maliki, a meeting of finance ministers.
The Iraqi government has tightened security measures in Baghdad, even seemed to be strangled.
The government declared a public holiday for five days, and spread hundreds of patrols and detachments of police and army, and put dozens of checkpoints and control.
Is scheduled to meet in Baghdad 22 leaders or their representatives at the summit which is expected to dominate the Syrian crisis and developments.
The Iraq's foreign debt in 2003 amounted to between 130 and 140 billion dollars, dropped the most in the 2004 Paris Club agreement.
The Paris Club agreement required Iraq to reach similar agreements with its other creditors, but some trade creditors have obtained court order to obtain the debt, and refuse to join the agreement.
The debts owed by Iraq, Saudi Arabia last year, up to $30 billion, and Kuwait up to $22 billion represents compensation for the Iraqi invasion of Kuwait in 1990.
Reading times: 114 - Comments: 0
"we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar" - Dr. Shabibi
“I just did my job...You either get them out alive or you die trying. If you don’t die trying, you didn’t try hard enough." - Marine Sergeant Dakota Meyer, Medal of Honor recipient