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Iraqi Debt Relief

US envoy campaigns for occupied country's future...

Iraqi Debt Relief

US special envoy James Baker will travel to Qatar, the UAE, Kuwait and Saudi Arabia this week to discuss the reduction of Iraq's $120 billion external debt. Baker will also meet with US-backed Iraqi leaders during his stay in the region.

Over the past five weeks, the United States has campaigned fiercly for the reduction
of Iraq's foreign debt in major European and Asian creditor nations. Baker has
received pledges from Germany, France and Japan to relieve the Arab state of
its heavy debt burden.

The US envoy hopes to get a similar response from Gulf leaders, to which Iraq owes an estimated $45-55 billion. Iraq insists the funds were given as grants prior to the 1991 Gulf War.


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