(October 21, 2003) Deep disagreement over Iraq’s crippling debt burden is expected to reanimate old quarrels and undermine progress at the Iraq donors conference, which meets for two days from Thursday in Madrid.
Sununu criticizes Iraq loan suggestion
(October 19, 2003) The United States should not ask Iraq to repay a portion of the proposed $87 billion for postwar expenses, U.S. Sen. John Sununu said Friday. It would send the wrong message to the Arab world and American allies, he said.
Bush cedes some control in Iraq
(October 18, 2003) Independent agency will oversee reconstruction spending.
Those odious debts
(October 18, 2003) Taking on Saddam’s debt burden would cripple the new Iraq economically. Besides, it is clearly unfair to expect the Iraqi people to pay for the reckless waste of the regime that brutally oppressed them for so long.
US companies to be big gainers from Iraq outlay
(October 17, 2003) Much of the US financial contribution to Iraqi reconstruction will be earmarked for American companies, according to the top international official at the US Treasury.
External debt: Issues of sustainability and legitimacy
(October 17, 2003) The question of legitimacy of claims on southern countries is normally ignored when a sustainable level of debt is determined. Such a practice legitimizes such debt and will cause lenders to behave irresponsibly again in the future. Iraq with a total debt of approximately US$380 billion and a GNP of $25 billion is a star case of not just an unsustainable burden, but also of highly questionable claims by creditors who financed the dictator’s military buildup and affluent lifestyle.
Outcome of the workshop on external debt: Issues of sustainability and legitimacy
(October 17, 2003) "Iraq with a total debt of approximately 380 bn US/Dollars and a GNP of 25 bn is a star case of not just an unsustainable burden, but also of highly questionable claims by reditors."
Senate turns half of Iraq aid into loans
(October 17, 2003) The Senate disregarded an intense lobbying campaign by the White House and decided that Iraq eventually should have to repay half the $20.3 billion President Bush wants to rebuild the country.
Iraq’s debt to Bulgaria to be ‘paid off with oil’
(October 16, 2003) Iraq’s debt to Bulgaria would most probably be paid off through its oil, US Congressman James Sensenbrenner said to Bulgaria’s Parliamentary Speaker Ognyan Gerdjikov.
Acting trade minister says most of Iraq’s debt should be forgiven
(October 16, 2003) Iraq’s interim trade minister says at least 65 per cent of his country’s outstanding debt should be forgiven. Ali Abdul-Amir Allawi says Iraq’s debts were incurred by what he calls a "brutal, authoritarian, dictatorial regime.
Upcoming donors conference shaping up
(October 16, 2003) The Coalition Provisional Authority’s chief fundraiser Marek Belka says he expects that some countries would contribute by writing off Iraq’s foreign debt incurred under the deposed Hussein regime.
UN backs Iraq resolution
(October 16, 2003) The resolution confirms that for the time being the Coalition Provisional Authority will remain the over-arching power in Iraq, but stresses the transfer of sovereignty and government back to the Iraqi people as soon as practicable.
Cuomo lectures on future of American policy
(October 13, 2003) "How do you become a liberator? Make them truly free" by forgiving foreign debt and working with the rest of the world to build a sound democratic structure, said former New York governor Mario Cuomo.
Council of judges reestablished
(October 9, 2003) The council will operate independently of the Iraqi Justice Ministry, and will "investigate allegations of professional misconduct and incompetence . . . and nominate lawyers to fill judicial and prosecutorial vacancies."
Some EU donors eye delay if no Iraq resolution
(October 9, 2003) Without a resolution, only those who already have troops in Iraq will want to put in much money," one EU diplomat said.


