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Article: Arab nations reluctant to forgive Iraq debt Kuwait, Saudi Arabia say they'll have to wait until elections
- Article from:
- Chicago Sun-Times
- Article date:
- November 24, 2004
- Author:
CopyrightCopyright 2004 Chicago Sun-Times. (Hide copyright information)
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DUBAI, United Arab Emirates -- Arab countries made clear Tuesday
they are far from ready to commit to a deal to forgive more than $30
billion owed them by Iraq, despite U.S. pressure and a recent debt-
relief package by other major countries.
The hesitation on the part of Saudi Arabia and Kuwait -- both
strong U.S. allies -- could have widespread ramifications for the
effort to help Iraq get back on its feet economically. A weekend deal
by Russia, Japan, Europe and the United States to forgive 80 percent
of their portion of Iraq's debt hinges on Arab countries going along.
Both Kuwait -- Iraq's largest single creditor -- and Saudi Arabia
have said no debt-relief ...