Saudi Arabia now ready to cut Iraq's debts (02/12/04)

Saudi Arabia has expressed its readiness to make substantial cuts in debts owed by Iraq to it and welcomed the return of an Iraqi ambassador to renew diplomatic ties after a break of 13 years.

"The Kingdom is committed to make substantial cuts in Iraq debts," Foreign Minister Prince Saud Al-Faisal told a press conference in Riyadh. He did not mention the percentage of debt relief Riyadh has offered to Baghdad. In his wide-ranging press conference, Prince Saud also pointed out that many countries had expressed their desire to take part in an international anti-terror conference to be held in Riyadh on 5-8 February 2005.

Saudi Foreign Minister Prince
Saud Al-Faisal

"An Iraqi technical team is working to rehabilitate the Iraqi Embassy in Riyadh," he told reporters. "We are ready to receive an Iraqi ambassador," but Baghdad has so far not made any such proposal. The decision to renew ties was taken during a visit to the Kingdom by Iraq's interim Prime Minister Iyad Allawi at the end of July.

He said the Kingdom would take part in a US-sponsored Forum for the Future next month in Morocco on political and economic reforms in the Middle East and North Africa.

"The Kingdom will participate by (expressing) its opinion and (exerting every) effort to reach common grounds for cooperation," he added. He declined to specify the level of the Kingdom's representation at the 11 December meeting, which is based on US President George W. Bush's vision of a "Greater Middle East."

Prince Saud said the Kingdom had reservations about the proposals for implementing reforms across the region. "Political reform should doubtlessly be based on internal conditions of each country ...Each country has its own traditions and that should be taken into consideration," he added.

Source: Iraq Directory