Thread: IMPORTANT MEETING 20 MAY: $140b of Iraq’s debts written off CAN ANYONE GET FULL STORY

Great thread to start off with after being out all day and then losing $100 gambling tonight. Gives me something to dream about on my way to sleep! as SGS say's Woot Woot and me Yippee! 1 of June is almost here!

All these assumptions of debt being written off having an effect on a rv or being the precursor to a RV are just that...assumptions. We seem to have reached a state of clutching at straws in the hope of a rv. Too many conflicts of interest in Iraq for any progress being made economically.

Sorry to burst the bubble! Back to reality folks!

'Iraq's debts won't be written off unless it makes progress'

US Ambassador to Iraq Zalmay Khalilzad said Iraq's main creditors, including Saudi Arabia, will not write off billions of dollars in debt unless it make progress on national reconciliation, economic reform, and improving security.
Iraq's main creditors, including Saudi Arabia, will not write off billions of dollars in debt or provide financial assistance to the war-torn country unless it make progress on national reconciliation, economic reform, and improving security, US Ambassador Zalmay Khalilzad said.

The US envoy, who left Iraq in March after 21 months that saw a massive increase in violence in Baghdad, stressed that a new five-year compact to stabilize Iraq requires the government and the international community to deliver on commitments.
"The Iraqis have committed themselves to a set of decisions on the economic front, on the political and security front," he told The Associated Press in an interview. "In exchange for that, the international community has committed to assist Iraq."
"The assistance, including debt relief, is conditional on progress," Khalilzad said. "Iraqis cannot assume that they will get that assistance if they don't make progress on their commitments."
The debt issue is of paramount importance to Iraqi's struggling government as much of the country's infrastructure, which was already in disrepair under Saddam Hussein's regime, has yet to be rebuilt after the 2003 US-led invasion.
While hopes have repeatedly been voiced by some in the international community that Iraq would use proceeds from oil sales to finance the reconstruction, such efforts have faltered or failed _ in large part because security costs have eroded sizable portions of reconstruction budgets.

Originally Posted by JudasPriest

Sorry to burst the bubble! Back to reality folks!

'Iraq's debts won't be written off unless it makes progress'

Yep, no way it's happening...

Ministers of Finance, Planning and Trade, in a press conference

Fire 140 billion dollars of Iraq's debt and the allocation of 11 billion investment Baghdad-up morning The statement Jabr Al-Zubaydi, Minister of Finance of fire 140 billion dollars of debt incurred by Iraq. Zubaidi said in a joint press conference with the Papan, Minister of Planning and farmer Abdul Sudanese Minister of Trade and Sinan Shabibi Central Bank Governor Sunday : "This achievement comes in the light of an agreement signed between the Iraqi government and the International Monetary Fund, which promised to help Iraq reduce the ratio of debt to pay from 100% to 20%", praising the role played by some countries in the process of helping Iraq and the search for extinguishing debt. " He added : "Iraq was extinguished debt of 45 state rates ranged Between 100% and 80% Zubaidi praised the role of Saudi Arabia, he said : it promised to extinguish 80% of Iraq's debt as well as China, which showed its commitment to the rules of the Paris Club and fire 80% of its debts. " He continued : "A government direction of the commercial debt of the companies were extinguishing 96% of Iraq's debts to companies and only 4%, and this proportion in the form of payments Iraq owes to Arab and foreign companies are not known so far." He expected that Zubaidi solution has been reached with Egypt on its debts and said : "They expressed their readiness to extinguish debts on Iraq, stating :" We are not only funds Egyptian workers who left their money in Iraqi banks and deal with these funds in trust in these banks will commit to return.

Originally Posted by lndmn_01

Yep, no way it's happening...

Good find...would be good to see the date on the article you referenced. The bottomline is this : all the creditors are willing to write off debt but only on the condition that they see some progress being made in Iraq, which so far has been quite minimal given the promises of investment by all and sundry. I doubt if the creditors have any faith in the present govt to achieve progress.

Originally Posted by JudasPriest

All these assumptions of debt being written off having an effect on a rv or being the precursor to a RV are just that...assumptions. We seem to have reached a state of clutching at straws in the hope of a rv. Too many conflicts of interest in Iraq for any progress being made economically.

Man!!! Are you out of the loop or what?
We're in the home stretch !!!!!!!!!!!!!

Originally Posted by Hummerman

Man!!! Are you out of the loop or what?
We're in the home stretch !!!!!!!!!!!!!

Sure hope so...been in this too long! Wait...someone's going to look at my join date and scream, "but he only joined this month"!!!

Originally Posted by JudasPriest

Good find...would be good to see the date on the article you referenced. The bottomline is this : all the creditors are willing to write off debt but only on the condition that they see some progress being made in Iraq, which so far has been quite minimal given the promises of investment by all and sundry. I doubt if the creditors have any faith in the present govt to achieve progress.

It seems the previous article from yesterday declares great faith for the government. Plus consider this, would the IMF even consider article IV discussions and ending "the program" without major progress? There is more going on than you are paying attention to. BTW if you are unfamilar with the Article IV discussion news, search the history of this forum and you'll find it.

Originally Posted by wciappetta

It seems the previous article from yesterday declares great faith for the government. Plus consider this, would the IMF even consider article IV discussions and ending "the program" without major progress? There is more going on than you are paying attention to. BTW if you are unfamilar with the Article IV discussion news, search the history of this forum and you'll find it.

Thanks. Will read up on Article IV to get some background info. Nice one.

Just because you don't agree with some one doesn't mean they should be banned. Every one is entitled to their opinion & if you don't like it don't read that persons posts.