Probe International

(October 31, 2003) The Russians are represented in Madrid, but they are there only to insist that any new, democratic Iraq repay the $3.4 billion they lent Saddam to buy MiGs and other Soviet-era weaponry. No wonder they are called Odious Debts.

(October 30, 2003) The US-led provisional authority in Iraq may be breaking international law by selling state assets, experts have warned, raising the prospect that contracts signed now by foreign investors could be scrapped by a future Iraqi government.

(October 27, 2003) As a child living in Kuwait during the first month of the Iraqi invasion . . . the most predominant memories are that of adolescents and senior citizens dressed in camouflage and toting AK-47’s, none of whom wanted to be there.

(October 27, 2003) A complete debt forgiveness by the German government can scarcely be considered," government spokesman Thomas Steg told a news conference in Berlin.

(October 27, 2003) What Iraq needs is a Marshall Plan. That is, an international effort, that – just as the Marshall Plan did for many European countries after World War II – restores Iraq to the position it enjoyed before Saddam Hussein decided to wage war on Iran.

(October 27, 2003) "[The doctrine of ‘odious debt’] has two attractions. It relieves Iraqis from debt burdens undertaken by a hideous tyrant for hideous purposes, and it puts future creditors to other hideous tyrants on notice that such debts might go unpaid.

(October 25, 2003) All international organizations said Saddam Hussein does not represent the people of Iraq." Then why should the Iraqis be held responsible for the loans he had taken, argues a leading Iraqi economics professor.

(October 24, 2003) "I rule out a complete cancellation of the debt," run up by former president Saddam Hussein’s regime and estimated at $130 billion (110 million euros), Heidemarie Wieczorek-Zeul, Minister for Cooperation and Development, said.

(October 24, 2003) Why cancel Saddam’s debts and not those accumulated by former Congolese dictator Mobutu Sese Seko, to name just one notorious example. The US administration isn’t in favour of a blanket write-off either, but would like to see one in the case of Iraq.

(October 23, 2003) Iraq’s $100 billion plus debt was supposed to be off the agenda at a summit to raise money to rebuild the battered country, but it emerged on Thursday as one of the key issues hindering the fund raising effort.