(November 6, 2003) The New York Times posted an amendment to an opinion editorial published on Nov. 4 by Mark Medish, who wrote Iraq should repay its foreign debts and negotiate "an orderly, market-friendly debt repayment schedule based on financial analysis; and encourage creative solutions, including debt swaps." What the article didn’t disclose at the time of publication was that Mr. Medish, an international lawyer and former Treasury official, represents corporations that are owed money by Iraq.
(October 22, 2003) As big powers gather, report indicates ‘unanimous’ Iraqi opposition to payment of Saddam’s ‘odious’ debts.
(October 22, 2003) Debt relief groups have urged Iraq’s debtors to adhere to a 100-year-old legal principle to resolve Iraq’s debt crisis and assist reconstruction efforts when they meet tomorrow in Madrid.
(September 12, 2003) The chair of an international donors’ conference to rebuild Iraq said there was no conflict of interest between his role and his position with a Polish bank, part of a winning tender to establish the Trade Bank of Iraq.
(July 23, 2003) Richard Perle called for a debt relief for Iraq as a way of teaching banks about the "moral hazard of … lend[ing] to a vicious dictatorship." Other countries with "odious debt" incurred under nasty regimes may be granted debt forgiveness. Why not Iraq?
(July 22, 2003) "American companies, connected to the Bush administration, […] will charge inflated costs, adding to Iraq’s debts and leaving it to the mercy of the World Bank and the IMF, which both serve America’s interests," says Dar Al-Hayat.
(July 16, 2003) Jordan announced yesterday it will use the Iraqi financial assets it has to pay due sums for the Iraqi traders who exported commodities to Jordan, and these assets to be returned back after fulfilling the due Iraqi debts to Amman.
(July 15, 2003) Visiting more of Iraq’s neighbours in his efforts to help create a stable, democratic and sovereign country, top United Nations envoy Sergio Vieira de Mello arrived in Damascus today for talks with Syrian President Bashir al Assad. Following the talks, scheduled for tomorrow, Mr. Vieira de Mello, Secretary-General Kofi Annan’s Special Representative, will then leave for Tehran to meet with Iranian President Mohamed Khatami before returning to Baghdad on Thursday.
(July 13, 2003) American plans to mortgage Iraq’s future oil supplies to pay for expensive postwar reconstruction work risk a repeat of mistakes made with Germany after the First World War, debt relief campaigners said this weekend.
(July 12, 2003) The Bush Administration is considering a provocative proposal to pledge a portion of Iraq’s future oil and gas revenue to secure reconstruction loans before a new Iraqi government is in place to approve the idea.
(July 12, 2003) Deputy Chairman of the Central Bank of Russia, Oleg Viyugin, said that the decision of the Paris Club to fix a concrete sum of Iraqi debts and the readiness of this organization to initiate the debt rescheduling is a positive factor.
(July 11, 2003) Iraq is likely to be forgiven two-thirds of its Paris Club debts but for talks to start, Iraq will have to acknowledge the numbers, says the director of Exotix, a brokerage specialising in illiquid emerging market debt.
(July 11, 2003) "[Iraq’s debt] burden, most [Paris Club] members agree, would be unfair to a people ruled for so long by Saddam Hussein’s oppressive regime and who often saw none of the money earned from the country’s assets," writes Tom Davis.
(July 10, 2003) The total public debt of Iraq vis-a-vis Paris Club creditors amounts to US$21,018 billion. "According to Paris Club standard methodology, these various data will have to be reconciled with Iraqi authorities prior to any negotiation."
(July 10, 2003) A team led by Treasury is examining the Iraqi debt situation and evaluating how best to handle it. It’s going to involve the Paris Club, the London Club and debt restructurings, says J.B. Penn.