Qatar and UAE to waive Iraqi debt (27/01/05)


Qatar and the United Arab Emirates have agreed to waive most of Iraq's outstanding debts.


Abu Dhabi's crown prince Shaikh Khalifa bin Zayid al-Nahayah told US Special Envoy James Baker that the UAE will write off the bulk of the debt, according to news reports. The debt is estimated at some $4 billion.
 
Qatar will consider forgiving all Iraqi debt
 
Earlier Qatar made a simple promise: "Qatar will waiver the bulk of Iraq's debt and will, at the right time, consider forgiving all of it," the country's foreign ministry spokesman said.

However, the foreign ministry spokesman did not specify the amount of Iraq's outstanding debt, or how much of it is being forgiven.

Kuwait has filed compensation claims worth $170 billion to the UN Compensation Commission, which has already approved some $37 billion to the emirate and actually paid about $9 billion. Unofficial estimates put the amount of iraq's debt to Kuwait at around $15 billion without interest.

Source: Al Jazeera


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