Iraq's Odious Debts

Treasury: More cash heads toward Iraq

June 4, 2003


Washington — John Taylor, a senior U.S. Treasury official, said another shipment of hundreds of millions of U.S. dollars are headed to war-torn Iraq as provisional authorities try to keep key civil service workers on the job.

Taylor estimated Iraq’s external debt at US$60 billion to US$130 billion. “In the medium term, once we have a better estimate of the true level of Iraq’s debt, we can move forward to develop a comprehensive strategy to deal with Iraq’s official debt,” he said.

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