Japan forgives 80% of Iraqi Debt

FoxNews.com ^

[HHKrepublican_2]

TOKYO — Japan finalized an agreement Thursday to forgive $6.1 billion of Iraqi debt, or about 80 percent of the total owed by Baghdad, a government official said. The two countries signed the formal accord on debt reduction, which was in line with a framework agreed by the world's main creditor nations, the Paris Club, one year ago. At that time, the Paris Club nations all agreed to reduce by 80 percent the $38.9 billion Iraq owed to its member states. The United States last year forgave 100 percent of Iraq's $4.1 billion debt. Baghdad owes another $80 billion to various Arab governments, mainly Saudi Arabia and Kuwait.

[Right Wing Assault]

The United States last year forgave 100 percent of Iraq's $4.1 billion debt.

(Man, that was a drop in the bucket, huh?) More abuse of underdeveloped countries by the USA. Get Kofi Annan on this.

[ExcursionGuy84]

He'll try to skim a double-digit percentage out of it for himself & lil' sonny boy, Kojo

[MNJohnnie]

Good News for the Iraqs.