(June 21, 2009) Iraq will continue to press its neighbours and the world to forgive billions of dollars in debt accured by former Iraqi president Saddam Hussein, an Iraqi lawmaker said Sunday.
(June 12, 2009) The portfolio manager of Templeton Global Bond Fund, Michael Hasenstab, says he’s investing in Iraqi bonds rather than treasuries, U.K. gilts or Japanese bonds. He believes the massive amount of debt occured by the U.S. and other governments over the past year will drive up inflation, weaken their currencies and hamper economic growth.
(September 27, 2008) Patricia Adams speech, Furman University, Department of Economics,
“The Odious Debt Doctrine and Iraq After Saddam.”
(May 15, 2008) During the long years of Saddam Hussein’s rule in Iraq, economic data were treated as top national secrets, and the revelation of such data to unauthorized persons could bring the death penalty.
(December 28, 2007) Martin Weiss, an analyst with the Congressional Research Service, the public policy research arm of the U.S. Congress, has published an updated paper about the treatment of Iraq’s debts by creditor nations following the fall of Saddam Hussein.
(October 20, 2007) In November 2004, Paris Club creditors canceled an unprecedented 80% of the debts they had lent to the regime of Saddam Hussein, catapulting the development of the Doctrine of Odious Debts forward. Now, legal scholars are identifying the many legal principles and precedents supporting lender liability and ensuring that odious debts are never created again.
(October 3, 2007) Texas tycoon, Oscar S. Wyatt Jr., pleaded guilty to conspiracy to defraud the United Nations’ former Oil for Food program for Iraq. The first major Oil for Food contractor to face a jury, Wyatt’s trial provided a glimpse "into the labyrinth of graft and greed in the U.N. program."
(August 11, 2007) The real problem is that the holders of Iraq’s old foreign debt don’t want it subordinated to a mortgage secured by oil revenues.
(Augest 3, 2007) Daily attacks on U.S. soldiers, infiltration of terrorists, and mischief-making by Iran and Syria have dominated the postwar headlines over the last two months – creating an image of a quagmire in the making.
(March 8, 2007) Corruption in Iraq is now worse than it was during Saddam Hussein’s regime, the Chairman of Iraq’s Commission on Public Integrity (CPI), Radhi Hamza al-Radhi, said in an interview published by the Arabic-language Asharq Alawsat newspaper. "There are eight ministers and 40 general directors against whom corruption charges have been brought and they [have] all fled abroad," he said.
(February 16, 2007) The Government Accountability Project (GAP) has learned from inside sources that World Bank President Paul Wolfowitz is currently negotiating a contract with a new resident Iraq Country Director. This step strongly suggests that Wolfowitz intends to expand Bank-funded projects there dramatically in the near future, despite the deteriorating security situation and recent disclosures of massive corruption in "reconstruction" efforts.
(December 22, 2006) France cancels the equivalent of $US5.2 billion of Iraqi debt, amounting to 80% of France’s claims towards Iraq.
(December 23, 2005) The $685 million IMF standby credit arrangement was the fund’s first ever with Iraq and is designed to support the nation’s economic program over the next 15 months.
(December 22, 2005) Switzerland has announced it has cancelled the equivalent of $US230 million of Iraqi debt, amounting to 80% of its claims towards Iraq.
(December 21, 2005) Korean construction and shipping companies have agreed to write off up to 80 percent of outstanding debts on contracts signed with the Iraqi government in the ’70s and ’80s.