Probe International

(April 14, 2003) "American taxpayers are nervous and whimsical, they don’t like their money to be wasted. It’s just a convenient moment to find a scapegoat, a potential sponsor." A Russian perception of Paul Wolfowitz’s proposal to write-off Iraq’s debts.

(April 14, 2003) Mr K—Ühler said it may be too soon to pursue debt forgiveness for Iraq, despite pressure from Washington. "Debt forgiveness for Iraq – for me, this is a bit premature to judge," he said.

(April 14, 2003) Germany’s World War I reparations totaled about twice its gross domestic product (GDP). The debts were never paid in full. They proved to be an impossible burden. Iraq’s debts amount to 15 times its annual GDP of perhaps $25 billion.

(April 14, 2003) Iraq is to be put on a fast track for debt relief as part of a package to rebuild its shattered economy agreed after the world’s leading nations stepped back from the brink of a damaging row over post-war economic reconstruction.

(April 14, 2003) The Saddam Hussein regime simply ignored the debt, but a new government looking to establish commercial credit arrangements around the world would be under immense pressure to pay off Baghdad’s obligations.

(April 14, 2003) "Some people shot, some people stole, and now someone has to pay for that," Putin said in wry response to a reporter’s question about Wolfowitz’s debt proposal. His remarks came after the trilateral talks in St. Petersburg.

(April 13, 2003) Due to the Doctrine of Odious Debts, France, Germany and Russia stand to lose billions in debt owed by Iraq.

(April 13, 2003) The world’s seven major industrial nations agreed on the need for a "multilateral effort to help Iraq," including international negotiations concerning Baghdad’s debt burden and reconstruction loans from institutions such as the World Bank.

(April 12, 2003) Will the Iraqi people be allowed to rebuild their country free from the debts of Saddam Hussein’s regime?

(April 12, 2003) The formidable task of putting together an interim Iraqi authority and settling Iraq’s finances dominated the agendas of most western governments. At issue was what to do about Iraq’s ‘odious debt’.

(April 12, 2003) Over the past decade, Saddam Hussein was able to build several dozen palaces and keep his security apparatus intact thanks largely to foreign loans, and it seems grossly unfair for France, Russia and Germany to make a new regime pay.

(April 11, 2003) John Snow, US Treasury secretary, told Fox News that he would bring up debt relief for Iraq at Friday’s meeting of finance ministers of the Group of Seven rich countries.

(April 11, 2003) Russian President Vladimir Putin said Friday Moscow was ready to consider Washington’s call for it to forgive Baghdad some $8 billion in Soviet-era debt.

(April 11, 2003) "How can we achieve debt relief? Because the Iraqi people are not responsible for these debts. It was the regime," asks Iraqi dissident Kazem Habib.