Kuwait reconsiders pardoning Iraq's $15b debtsMENAFN - 25/04/2007</B>

(MENAFN) The Iraqi Prime Minister said that Kuwait is recoiling at forgiving Iraq's $15 billion debt, after Kuwaiti officials stated that Iraq has substantial oil resources and that the country should support itself, Times Argus reported.

In attempts to strengthen Iraq's financial condition, the US administration is trying to persuade countries erase Iraqi debts. Eighty percent of Iraq's debts have been written off by the Kuwaiti government, however, the decision must be approved of by Kuwait's parliament.

It is worth mentioning that Saudi Arabia has decided to cancel the majority of Iraq's debts.





MENAFN - Middle East North Africa . Financial Network News: Kuwait reconsiders pardoning Iraq's $15b debts