Posted on 11/23/2004 7:23:28 PM PST by LouAvul
Arab countries made clear Tuesday they are far from ready to commit to a deal to forgive more than $30 billion owed them by Iraq, despite U.S. pressure and a recent debt-relief package by other major countries.
The hesitation on the part of Saudi Arabia and Kuwait - both strong U.S. allies - could have widespread ramifications for the effort to help Iraq get back on its feet economically. A weekend deal by Russia, Japan, Europe and the United States to forgive 80 percent of their portion of Iraq's debt hinges on Arab countries going along.
Both Kuwait - Iraq's largest single creditor - and Saudi Arabia have said no debt-relief commitments are possible until after Iraq has an elected and internationally recognized government.
(Excerpt) Read more at modbee.com ...
Gotta love it. They're so nice to the Palestinean refugees, too. You can feel that brotherly love.
What about France? Any debt there?
Seems a bit hypocritical to me.
They should make application to the UN.
Probably loads of it.
Understatement.
Tell them to lump it.
They will forgive Iraq debt. They will not be able to resist our pressure on them.
They should be invited to do to themselves what Michael Jackson does to little boys.
No doubt the American tax payer will be made to pay it.
This isnt really a surprise...in the end, Saudi will fall into line, but the Kuwaitis have a tendency for long memories....
reposted to update my days remaining....
"understatement"
Kuwait may deserve a pass on this.
So much more the reason for a democractically elected government to be in place sometimes next Feb/March range.
Most of the nations mentioned here, have made it clear, based on a few other articles I have encountered on this subject, that once a legal government is in place they will go along with debt forgiveness including Saudi Arabia, UAE,Barain, Yemen, Kuwait, Egypt etc.. I believe Russia and France is also going to go along with the deal.
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