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Category Archives: Iraq’s Odious Debts
Iraq seeks forgiveness of Saddam Hussein’s “odious” debts
(June 21, 2009) Iraq will continue to press its neighbours and the world to forgive billions of dollars in debt accured by former Iraqi president Saddam Hussein, an Iraqi lawmaker said Sunday. Continue reading
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Treasuries are out, Iraq debt is in
(June 12, 2009) The portfolio manager of Templeton Global Bond Fund, Michael Hasenstab, says he’s investing in Iraqi bonds rather than treasuries, U.K. gilts or Japanese bonds. He believes the massive amount of debt occured by the U.S. and other governments over the past year will drive up inflation, weaken their currencies and hamper economic growth. Continue reading
The Odious Debt Doctrine and Iraq After Saddam
(September 27, 2008) Thank you for this invitation to speak to the economic growth and development class on the subject of odious debts. Professor Peterson asked me to introduce the subject and I suggested that I do so in the context of Iraq and Saddam Hussein’s odious debts, which we both thought would be timely and interesting for your class. Continue reading
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Western Countries Cancel Iraqi Debt, Gulf Countries Don’t
(May 15, 2008) During the long years of Saddam Hussein’s rule in Iraq, economic data were treated as top national secrets, and the revelation of such data to unauthorized persons could bring the death penalty. Continue reading
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REVIEW Iraq’s debt relief: Procedure and potential implications for international debt relief
(December 28, 2007) Martin Weiss, an analyst with the Congressional Research Service, the public policy research arm of the U.S. Congress, has published an updated paper about the treatment of Iraq’s debts by creditor nations following the fall of Saddam Hussein. Continue reading
Legal scholars set to change the world
(October 20, 2007) In November 2004, Paris Club creditors canceled an unprecedented 80% of the debts they had lent to the regime of Saddam Hussein, catapulting the development of the Doctrine of Odious Debts forward. Now, legal scholars are identifying the many legal principles and precedents supporting lender liability and ensuring that odious debts are never created again. Continue reading
An oil for food expose
(October 3, 2007) Texas tycoon, Oscar S. Wyatt Jr., pleaded guilty to conspiracy to defraud the United Nations’ former Oil for Food program for Iraq. The first major Oil for Food contractor to face a jury, Wyatt’s trial provided a glimpse "into the labyrinth of graft and greed in the U.N. program." Continue reading
Paying for the reconstruction of Iraq
(August 11, 2007) The real problem is that the holders of Iraq’s old foreign debt don’t want it subordinated to a mortgage secured by oil revenues. Continue reading
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