Iraq's Odious Debts

IMF has not worked out its stance on settlement of Iraqi foreign debt

Pravda, Russia
June 20, 2003

The International Monetary Fund (IMF) has not formulated its position concerning the settlement of the Iraqi foreign debt, said IMF deputy managing director Ann Krueger at a press conference on Friday.

She believes that to formulate the position on this issue it is necessary to take into account the size of the Iraqi debt to various countries, the creditors’ stances and how the policy of Iraqi debt settlement will influence private markets.

At the same time, Krueger stressed that the IMF does not interfere in relations between creditors and debtors since this is for the Paris Club to solve such issues. But the Fund is interested in the financial stability in the world and therefore is going to represent its viewpoint on this issue, she added.

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