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Iraq
Iraq achieves little in Stockholm on debt relief
2008-05-30
STOCKHOLM, May 29 (Xinhua) -- Despite a strong push from Washington and the Iraqi authorities, little action on debt relief was seen at the Stockholm conference on Iraq. Both U.S. Secretary of State Condoleezza Rice and Iraqi Prime Minister Nuri al-Maliki pressed Arab creditors to reduce debts owed by Iraq during Saddam Hussein's rule.

Maliki argued that the Iraqi people should not repay the debts, which were mainly the result of wars with neighboring countries. "Iraq did not benefit from this, has only reaped destruction and damage and ruined relations with neighbors," Maliki told a press conference on Thursday. He said it is legitimate for Iraq to ask for debt relief as the country no longer poses a threat to peace in the region.

Maliki said the debts, as well as international sanctions on Iraq, imposed after Iraq's invasion of Kuwait in 1990, are obstacles to Iraq's economic development.
Posted by:Steve White

#1  But they have billions and billions for the bankers and speculators who trash the market. Notice how many banks have been given the go to write off their billions of loses created in the last 8 years versus the debt driven up by loans, just as bad, during the Saddam era.
Posted by: Procopius2k   2008-05-30 08:27  

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