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FinMin: Bulgaria, Slovenia, Poland Agreed to Waive 80% of Debt
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Sofia News Agency - [5/4/2007]
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Iraq's finance minister has announced that three Eastern European countries - Bulgaria, Slovenia and Poland have agreed to write off 80% of the Iraqi debt.
The debts were run up mostly during former leader Saddam Hussein's war against Iran in the 1980s, said Minister Bayan Jabr.
Earlier in the day, as an international gathering on the country's future opened, Iraqi Prime Minister Nouri al-Maliki called on all countries to forgive Iraq's foreign debts.
"We are calling on all our friends participating in the conference to write off Iraq's debts," Nuri al-Maliki said at the opening of an international conference on Iraq in the Egyptian resort city of Sharm el-Sheikh. Bulgaria is represented at the conference by Foreign Minister Ivaylo Kalfin.
Nuri al-Maliki said it will make it possible for Iraq to start implementing large-scale construction projects and plans to restore the country's infrastructure.
Al-Maliki thanked the countries that had already written off his country's debt. "Our nation will not forget their kindness," he said.
Iraq owes some USD 50 B, notably to Saudi Arabia, Kuwait, Russia and China, according to Iraq's Finance Minister Bayan Jabr.
It owes USD 1.7 B to Bulgaria.
Another USD 100 B already has been written off by the Paris Club of lender nations.
The Paris Club agreement provides for an 80% waive of the money owed by Iraq and a rescheduling of the remaining 20%.
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