US, France, Germany agree on substantial Iraqi debt reduction
The United States, France and Germany have agreed that there should be substantial debt reduction for Iraq in the Paris Club 2004, reported the White House on December 16, 2003.
In a statement released after US President Bush spoke with Special Envoy James Baker, the Press Secretary said that the three parties "will work closely with each other and with other countries” to achieve debt relief for Iraq, reported Washington File.
Baker met with French President Chirac and Chancellor Schroeder during a visit to Europe this week, where he tried to convince world leaders to ease Iraq’s debt. Some $40 billion of Iraq’s $120 billion debt is owed to 19 members of the informal Paris Club creditor group. — (menareport.com)
© 2003 Mena Report (www.menareport.com)