Probe International

(May 31, 2003) "Why not leapfrog the issue of Iraqi debt and propose a radical cut in what Russia wants to be repaid? (This is where he’ll end up anyway.)," says Stephen Sestanovich.

(May 30, 2003) The Kremlin argues that, under the current financial situation in the world, "no one can afford simply forgiving" the Iraqi debt, says Pavel Ivanov.

(May 29, 2003) This is a letter to the editor written by Justin Alexander, UK Co-ordinator of Jubilee Iraq. He critizes Lex Rieffel’s argument that odious debts repudiation is impractical and introduces a plan for a debt arbitration tribunal for Iraq. 

(May 29, 2003) Much of the debt held by developing countries is "odious" — the result of loans that wealthy creditors made to tyrannical governments. It is simply inhumane for G8 countries to saddle impoverished citizens with these debts after the dictators fall.

(May 28, 2003) The U.S. will go to the weekend G8 summit urging debt relief for Iraq, saying it is merited by what it describes as Saddam Hussein’s abhorrent 23-year rule, but economists say it is creditor politics which drives relief.

(May 28, 2003) Abdul Minty, South Africa’s acting Director-General of Foreign Affairs, fears that if the U.S. administration takes the view that Iraq’s debts have to be written off there will not be much left for writing off debt for developing countries.

(May 27, 2003) The U.S. is expected to urge Iraq’s creditors to consider debt relief at the G-8 summit. U.S. officials charged with assessing Iraq’s debt position are putting accuracy ahead of speed: "It doesn’t matter when it is done, it matters how it is done."

(May 27, 2003) Members of the Group of Eight (G-8) industrial democracies have reached preliminary agreement to grant a moratorium on Iraq’s foreign debt payments through 2004, ITAR-TASS reported on May 19, citing french sources.