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| 18 December 2004 | Saturday | 05 Ziqa'ad 1425 |
US writes off Iraqi debt
WASHINGTON, Dec 17: The United States on Friday wrote off all of its 4.1 billion dollars in Iraqi debt and urged other nations to follow suit as a critical move for the country's reconstruction.
Secretary of State Colin Powell, Treasury Secretary John Snow and Iraqi Finance Minister Adil Abd al Mahdi signed the accord formalizing the US commitment made to the Paris Club of Iraqi creditors last month.
The group of 19 creditors agreed to cancel 80 per cent of the approximately 40 billion dollars in debt. -AFP
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