Tag: Odious Debts

Iraq hopes to reach debt reduction deal this year

(March 16, 2004) Iraq’s finance minister said Baghdad hoped to finalise a deal to ease its massive debts this year, despite splits among creditors over how much debt relief to grant a country so rich in oil. "The world saw what happened in Iraq: 35 years of damage," said Kamel al-Gailani, who held talks with an IMF team in Beirut this week. "Iraq is a rich country, but to return to the international community as soon as possible we need a substantial reduction." He declined to say how much.

African legislators wage war against corruption

(March 11, 2004) This week, parliamentarians across Africa gathered in Abuja, Nigeria for a two-day conference on corruption. Under the auspices of African Parliamentarians Against Corruption (APNAC), participants were expected to debate questions such as the role of parliaments in preventing crimes of laundering and the trafficking of minerals, money and humans, and the establishment of preventive mechanisms and the role of national parliaments in helping to recover looted wealth stashed in other countries, particularly in the West.