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That much of the world (in partnership with U.S. “elites”) treats the hapless American taxpayer about like Mr Haney treated Oliver Douglas, Bernie Maddoff treated his clients and the world treats Rodney Dangerfield has become a campaign theme of enormous popularity and consequence. I think you know for which campaigner.Well, there’s one issue one which the American taxpayer can look across the oceans, touch his nose with his thumb, extend his hand, and fan his fingers while snickering “NEENER!...NEENER!...NEENER!--You SUCKERS!” You see, amigos: the taxpayers of nations from France to Spain to Germany, from South Korea to Japan and from...

Poland manages to massively reduce its foreign debt burden to the Paris Club From Poland A.M. Poland's debt to the Paris Club has diminished by 42% as compared to the end of 2004, when it amounted to EUR 12.3 billion. The government managed to totally pay off countries such as Germany, UK, USA, Switzerland, Netherlands, and Sweden. Poland still owes the Paris Club EUR 7.1 billion, which constitutes nearly one third of the foreign debt, and liabilities with France, Austria, Canada, Japan, Italy, Belgium and Norway still have to be settled. "We are still in talks with the creditors. There...

WARSAW, Poland (AP) - Poland on Thursday repaid most of its communist-era debt to the United States, handing Washington $868 million, a government official said. Deputy Finance Minister Wieslaw Szczuka was quoted as telling the PAP news agency that the payment accounted for all of the money Poland owes the U.S. through the Paris Club of creditor nations - with the exception of $96 million, which has been transferred to an ecological fund. Szczuka added that Poland plans to pay Sweden the 202 million euros ($258 million) it owes on Friday. However, he said, Poland is awaiting an answer from...

U.S. Treasury Backs Poland's Buyback Plan 1 hour, 11 minutes ago Europe - AP PARIS - The United States will take part in Poland's plan to buy back a large chunk of its $16 billion in Communist-era debt, a U.S. Treasury undersecretary said Wednesday. Poland reached a deal with the Paris Club — an informal group of sovereign creditors — last month to repurchase most of its debt at par value. Club member states now must decide whether to participate in the plan in which Poland will buy back its debt with cash and bonds. Poland has said it hopes...

MOSCOW, February 18 (Itar-Tass) -- Russia has transferred about 1.5 billion euros to member countries of the Paris Club in payment of the main debt and interest, a source in the Russian Finance Ministry told Prime Tass. Russia transferred $400 million and 1.2 million euros via Vnesheconombank on February 17 and 18. Russia’s debt to the Paris Club made $44.4 billion (36 billion euros) as of October 1, 2004, the source said. Russia is holding negotiations on pre-term payment of the debt with the Paris Club members. It has suggested paying the debt within three years with annual transfers of...

LONDON -- Nearly six years ago, the world's rich nations were busy bailing out Russia from the throes of a deep financial crisis. In an ironic turn of events, it is now the turn of less prosperous countries like Russia and Poland to lend a helping hand by repaying debts to rich countries like Germany and France, which are grappling with budget deficits. The Paris Club of creditor nations met Thursday to discuss plans by Russia and Poland to buy back $46.1 billion and $16.3 billion of debt respectively. Germany, which has breached the 3 percent European Union budget deficit...

U.S. and European officials said they expect to hammer out a deal by year-end to forgive most of the loans Iraq owes industrialized nations, giving a big boost to the new Baghdad government's ability to sort out its tangled finances. At recent meetings..., the group of 19 wealthy nations known as the Paris Club edged closer to a deal involving the more than $21 billion in loans they are owed by Iraq and a like amount in interest. The issue is expected to be a high priority at a series of meetings among the World Bank, the International Monetary Fund...

<p>Just a few months ago, resolution of Iraq's gigantic debt seemed pretty much insurmountable. But with almost no media fanfare, special Presidential debt envoy James A. Baker III has been making notable progress.</p> <p>In December, the former Secretary of State visited Iraq's main European creditors and Japan, winning promises for major debt reduction. Now it's the Arab world's turn to make its contribution to a stable, free Iraq. Early this week Mr. Baker won general debt forgiveness promises from the United Arab Emirates, Qatar and Kuwait, and yesterday he reportedly got the same from the biggest Arab creditor, Saudi Arabia. While no numbers were disclosed, the size of the haircut is expected to be large.</p>

Iraq's Overall Financial Obligations Kuwait $97 billion Russia $64 billion Jordan $16.295 billion Saudi Arabia $14 billion Britain $8 billion Germany $6 billion Japan $5 billion France $4 billion S. Korea $1.2684 billion ...... Total $384.4684 billion Note: The figures here includes foreign debts, Gulf War compensation claims, and pending contracts. Source: Center for Strategic and International Studies(U.S.) and The Ministry of Construction and Traffic(S. Korea)

By Mark Egan and Glenn Somerville WASHINGTON, April 11 (Reuters) - Public quibbling among Group of Seven partners ahead of the war with Iraq has begun anew as talks turn to reconstruction, threatening to hamper efforts to prop up a feeble global recovery. As G7 finance ministers -- from the United States, Japan, Germany, Britain, Canada, France and Italy -- gathered in Washington for a weekend meeting, there were signs of fresh tension over how to rebuild Iraq and who should take the lead. Rich nations squabbled for months at the United Nations over how best to tackle weapons...

ST PETERSBURG, Russia, April 11 (Reuters) - Russian President Vladimir Putin said on Friday Moscow was ready to consider Washington's call for it to forgive Baghdad some $8 billion in Soviet era debt. "On the whole the proposal is understandable and legitimate. In any event, Russia has no objection to such a proposal," Putin told a news conference alongside German Chancellor Gerhard Schroeder and French President Jacques Chirac. "I believe that we could begin to discuss the principles of this issue at the G8 summit in Evian. In any case, we are ready to do so," he said, referring to...