• search

Iraq asks Arab states to cancel Saddam-era debt

Written by: Staff
|

BAGHDAD, July 5 (Reuters) Iraq's President Jalal Talabani urged Arab countries today to forgive Iraq's debts, saying it was incurred under toppled leader Saddam Hussein.

''Regarding our Arab brothers, we hope they will initiate the cancellation of this debt,'' Talabani said in a statement in Baghdad as Prime Minister Nuri al-Maliki ended a Gulf tour.

''States that helped the dictatorship have no right to ask the democratic state that succeeded it to repay those debts.'' Iraq has in the past disputed whether it should pay back much of its debt to Arab countries, most of which was incurred during the Iran-Iraq war, when Sunni Arab countries like Saudi Arabia and Kuwait funded Saddam's fight against the non-Arab, Shi'ite Islamic republic of Iran.

Gulf Arab states are owed about 40 billion dollar by Iraq -- with the bulk of the debt owed to Saudi Arabia and Kuwait.

Iraq's main Western creditors grouped in the Paris Club of wealthy nations agreed in November 2004 to cancel 80 percent of Baghdad's debt to them in three steps over four years.

Reuters DH VP0115

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more