(December 21, 2005) The restructuring of Iraq’s outstanding debt is entering a pivotal stage. However, not everybody is pleased with a process that has been moving ahead at a rapid speed.
Hyundai Engineering agrees to write off Iraq debt
(December 20, 2005) Hyundai Engineering and Construction will accept a debt write-off proposal and collect only 20 percent of bonds it has been owed by Iraq since the first Gulf War 16 years ago.
Austria cancels 80 percent of Iraq debt
(December 19, 2005) Austria has announced it has cancelled the equivalent of $2.1 billion of Iraqi debt, amounting to 80% of Austria’s claims towards Iraq.
Iraqi elections: ‘To be free and fair’
(December 14, 2005) Only after occupation can the U.S. begin to make good on outstanding U.S. obligations to the people of Iraq – including compensation for the years of sanctions, reparations for the devastation of war, and cancellation of odious debt.
The West, quietly, is pillaging Iraq
(December 10, 2005) When Saddam Hussein grabbed power in 1979, Iraq had no long-term foreign debt. Cash reserves were $36 billion. Iraq had high literacy and public universities; it had extensive socialized health care. It was becoming a "first world" nation. Soon, however, this violent, cunning despot began squandering that wealth.
World Bank backs $100m Iraq loan
(November 30, 2005) The World Bank has approved a $100 million loan to Iraq to help reduce overcrowding in the country’s schools.
Indian parliament erupts in chaos over Iraq oil-for-food scandal
(November 25, 2005) BJP wants Sonia and Natwar Singh to resign.
Judgment of Paris
(November 25, 2005) What’s good for Iraq must surely be good for Nigeria too.
Japan forgives $6 billion in Iraq debt
(November 24, 2005) The government of Japan has released Iraq from $6.1 billion of the $7.6 billion owed to it.
Issuing contracts, ex-convict took bribes in Iraq, U.S. says
(November 18, 2005) A North Carolina man who was charged with accepting kickbacks and bribes as a comptroller and financial officer for the American occupation authority in Iraq was hired despite having served prison time for felony fraud in the 1990’s.
France’s ‘Ambassador for Life’ admits role in oil-for-food scandal
(November 18, 2005) One of France’s most distinguished diplomats has confessed to an investigating judge that he accepted oil allocations from Saddam Hussein.
Cancel Iraq’s debt, says prime minister
(September 17, 2005) In his address to the recent United Nations world summit in New York, Iraqi Prime Minister Ibrahim Jafary urged creditor nations to cancel Iraqi external debt “accumulated by the corrupt policies of the previous regime.”
Cancel Iraq’s debt: PM
(September 17, 2005) Iraqi Prime Minister Ibrahim Jafary urged creditor nations to cancel Iraq’s external debt in order for Iraq to rejoin the international community, "be an asset," "participate in promoting world security," and "face the challenges of terrorism."
Restructuring of Iraq debt ‘on track’
(September 16, 2005) The first phase of Iraq’s debt restructuring to repurchase and cancel, at a discount, Saddam-era claims held by commercial creditors is complete.
First phase of Iraqi commercial debt restructuring complete
(September 16, 2005) The first phase of Iraq’s debt restructuring to repurchase and cancel, at a discount, Saddam-era claims held by commercial creditors is complete.