(June 7, 2003) Banks in Bahrain are looking at how to recover millions of dollars in unpaid loans to Iraq. They want a deal over the debts before even considering investing in rebuilding the country, says a top official.
(June 7, 2003) The recent Ghorfa summit of Arab and German business leaders in Berlin, called for remission of Iraqi debts from the Saddam Hussein era. Iraq should be given a chance for a new beginning similar to Germany after World War II, says German business leader.
(June 5, 2003) Former Iraqi foreign minister Adnan Al Pachachi has urged U.S. rulers that Iraq needs "external help, including measures by major creditors to write off Iraq’s debt." Iraq should also be exempted from paying war damages under UN resolutions.
(June 5, 2003) U.S. senators criticized the Bush administration for not having calculated the cost of rebuilding Iraq, even as international finance ministries begin discussing how to fund the reconstruction.
(June 5, 2003) Iraq should be given relief from its multi-billion dollar debt, and other countries, in addition to the United States, should be pressed for cash to help rebuild the country, US officials said on Wednesday.
(June 5, 2003) U.S. officials announced this week that there will be a meeting of donors in New York at the end of June, to discuss fundraising for Iraq’s reconstruction.
(June 4, 2003) Russia’s Foreign Minister Igor Ivanov said that the question of Iraq’s huge international debts was to be settled, under UN Security Council resolution 1483, by international institutions notably the Paris Club of creditor nations.
(June 4, 2003) John Taylor, a senior U.S. Treasury official, said: "Once we have a better estimate of the true level of Iraq’s debt, we can move forward to develop a comprehensive strategy to deal with Iraq’s official debt."
(June 4, 2003) Testimony of Alan P. Larson, Under Secretary for Economic, Business, and Agricultural Affairs before the Senate Foreign Relations Committee in Washington, D.C.
(June 3, 2003) "If wealthy countries are serious about aiding freedom, they must recognise the illegitimacy, not only of Iraq’s obligations, but of all odious debt." says this Editorial in the Daily Nation.
(June 3, 2003) Paul Bremer, the head of the U.S. occupation authority in Iraq, called on countries that lent Iraq money when it was run by Saddam Hussein to forgive these because the country should not be forced to use its resources to "service crippling debts."
(June 2, 2003) Should the Iraqis assume responsibility for their former dictator’s billions in debts? The dispute on debt forgiveness is becoming a key to the future of Iraq. The US government has the better arguments in this respect, both economically and morally.
(June 2, 2003) Russia is going to defend its interests as regards the further fate of Iraqi debts, said Deputy Prime Minister and Finance Minister Alexei Kudrin.
(June 2, 2003) "There is another interesting twist to the issue of Iraq’s debt. How far are the people of Iraq responsible for repaying its so-called “odious” debt, contracted by the regime of the erstwhile dictator?" asks A. V. Rajwade.
(June 1, 2003) U.S. Treasury officials have called for Iraq’s debts to be written off as a gesture of support for the people who did not incur it in the first place. … it is a good idea, but the G8 is unlikely to buy it.