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Article: The Paris Club of 19 official creditor nations agreed to grant substantial external debt relief, to help the country regain its fooling.(Iraq)(Brief Article)
- Article from:
- Petroleum Intelligence Weekly
- Article date:
- November 29, 2004
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The Paris Club of 19 official creditor nations agreed to grant substantial external debt relief, to help the country regain its fooling. The relief is the largest yet granted to a developing country, with the Paris Club agreeing to forgive, in stages, up to 80% of its loans totaling about $42 billion. The debt relief will be granted over three phases: 30% will be forgiven immediately, followed by an ...