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- PUBLISHED ON 29/10/2018
[list="color: rgb(0, 0, 0); font-family: DroidKufi, sans-serif; margin-right: 20px; margin-left: 20px; padding-right: 0px; padding-bottom: 1.5em; padding-left: 0px;"]
[*]Treatment of debt Principal Treatment
[/list]
Three stages were adopted to achieve an 80% reduction in external debt:
Phase I: Phase l
Write off 30% of total debt (as it was) on 1 January 2005, under which Iraq received a reduction of $ 11.6 billion.
Phase II: Phase ll
A further 30 per cent reduction in total debt once Iraq signs an agreement
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BY
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- PUBLISHED ON 29/10/2018
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On November 21, 2004, the Republic of Iraq signed an agreement with a group of official creditors from the Paris Club countries, whereby it obtained a reduction of 80% of Iraq's sovereign debt with that group of 19 countries, December 2004 was about $ 38.9 billion in nominal terms (of the total debt of the country initially estimated at $ 128 billion), which was called pre-1990 debt and was processed according to the following stages:[list="color: rgb(0, 0, 0); font-family: DroidKufi, sans-serif; margin-right: 20px; margin-left: 20px; padding-right: 0px; padding-bottom: 1.5em; padding-left: 0px;"]
[*]Treatment of debt Principal Treatment
[/list]
Three stages were adopted to achieve an 80% reduction in external debt:
Phase I: Phase l
Write off 30% of total debt (as it was) on 1 January 2005, under which Iraq received a reduction of $ 11.6 billion.
Phase II: Phase ll
A further 30 per cent reduction in total debt once Iraq signs an agreement
To continue reading please download a simple PDF printable file. Click the link below
[You must be registered and logged in to see this link.]
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