Gulf Daily News
July 18, 2004

AMSTERDAM: The Netherlands is prepared to grant Iraq debt relief on some of the 245 million euros ($302.6m) it is owed in export credit and interest, a Dutch minister was quoted as saying

Development Minister Agnes van Ardenne said in an answer to a parliamentary question it was not yet clear how much of the debt would be forgiven, saying more information was needed as to how much Iraq would be able to repay, news agency ANP reported.

The centre-right Dutch government supported last year’s US-led war in Iraq and won approval last month to extend the mandate of the some 1,300 Dutch troops serving in the country.

Iraq wants a big write-off on its estimated $120 billion debt to international creditors.

The US wants creditors to forgive as much as 95 per cent of Iraq’s pre-war debts, but other nations have suggested a smaller write-off.