Iraq's Odious Debts

Iraq to auction treasury bills on July 18th

Middle East North Africa Financial Network (MENAFN)
July 8, 2004

Iraq’s Finance Ministry will auction IQD150 billion ($103 million) of treasury bills (T-bill) on July 18, 2004, Reuters reported.

The T-bill issue would be used to repay outstanding debt issued by Saddam Hussein’s regime.

Iraq’s Finance Minister said that his country had hired international consultants to help assess financial claims on the country from the Saddam Hussein era.

U.S. accountants Ernst and Young and lawyers Clearly Gottlieb Steen & Hamilton will help the ministry verify debt claims estimated at around $120 billion.

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