Iraq to start pay debts to Romania in 2009
September 14, 2006
The Iraqi Ministry of Finance announced that the state will start pay its debts to Romania beginning in 2009, Bucharest Daily News reported.
Iraq will gradually pay the $977.1 million owed to Romania over a 20 year period, representing debts it had made before 1989.
Romania's trade with the Iraqi regime was substantial, due to the Romanian communist regime's ties with the Middle East and especially with Iraqi former president.
Many Romanian companies had traded with or made construction works in Iraq but the 1989 revolution in Romania and the Gulf War made debt restitution difficult, if not impossible.
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