Probe International

(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.

(April 11, 2003) Expressing the sense of the U.S. House of Representatives that France, Germany, and Russia can initially best contribute to the reconstruction of Iraq by the forgiveness of outstanding debt…

(April 9, 2003) Even with large write-downs, there will still be a big Iraqi debt to deal with. However, some analysts are suggesting that part of it could be repudiated, as has been done in the past when tyrannical regimes were overthrown.

(April 8, 2003) The prospect of a regime change in Baghdad that could pave the way for debt restructuring talks between a new government and the country’s long-suffering creditors, has triggered a rally in Iraq’s traded debt.

(April 7, 2003) A liberated Baghdad shouldn’t have to pay Saddam’s French debts.

(April 4, 2003) Every vanquished Iraqi Republican Guard division is a hopeful sign for investors who have bought up Iraqi debt.