Probe International

(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.

(April 3, 2003) Will the consequences resemble the tragedy of Germany after World War I or the success of Germany after World War II?

(April 3, 2003) Already, traders say, the secondary-market price of two big Iraqi loans has doubled, to around 19 cents on the dollar.

(April 2, 2003) A reporter questioning Ari Fleischer about the Iraq situation, asked: "Does the President have a feeling on what should be done with Iraq’s debt?

(April 2, 2003) Russia’s Defense Minister Sergei Ivanov is quoted to the thorny issue of Iraq’s $7.5 billion debt to Russia, admitting for the first time that "Saddam is neither friend nor brother to us, and he will never repay (Iraq’s) debts to us."