BERLIN, Nov 22: Chancellor Gerhard Schroeder on Saturday called upon the Paris Club of creditor governments to work out any rescheduling of Iraq’s foreign debt and said Germany was willing to consider forgiving some of Iraq’s debt to Berlin.

In an interview with Der Spiegel magazine, Schroeder said it was up to the Paris Club to decide any long-term rescheduling of Iraq’s foreign debt, which he said was $116 billion. He said Germany was willing to play a role in that.

“It’s my view that it is up to the Paris Club of creditor states — it has to work on the question of a long-term rescheduling,” Schroeder said. “Germany will certainly be helpful on that issue.”

Germany has in the past said it would not consider forgiving Iraq’s debt to Berlin of some 4.4 billion euros ($5.2 billion) but that a temporary freeze on servicing payments could be discussed by the Paris Club of creditor governments.

“I do not want to rule out the possibility of a partial forgiveness of debts,” Schroeder added in the interview. “The important thing is that this discussion finally gets going.”

Some $21bn is owed to Paris Club countries, who are cooperating to restructure Iraq’s debt. —Reuters