Reuters
September 29, 2004

Washington: The International Monetary Fund said on Wednesday Iraq’s official bilateral creditors had agreed to defer debt the country owes them until the end of 2005.

The IMF, which approved $436 million in emergency aid to Iraq on Wednesday, also said the creditors “indicated that they are willing to make their best efforts . . . to provide debt relief on appropriate terms.”

The IMF aid comes as the Paris Club of 19 industrialized countries discuss canceling Iraq’s $120 billion foreign debt.