| Algeria cancels all of Iraq’s debt estimated at more than $ 400 million |
| Translated by Iraqdirectory.com – [9/28/2011] |
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Iraq’s ambassador in Algeria, Uday Khair Allah revealed that the Algerian government officially notified the Iraqi counterpart write off all of Iraq’s debt estimated at more than $ 400 million. Khair Allah said that he had received correspondence from the Algerian government official notification to clear all of Iraq’s debt to Algeria, which were estimated at more than $ 400 million, representing amounts owed and the benefits of it, as well as fines for delay in payment. Khair Allah referred that the embassy offered to Algeria the need to make the necessary arrangements to clear this debt in full, especially Algeria earlier confirmed to clear the debt, but the amounts owed only, without interest, fines for non-payment,’ but by sending yesterday Algeria informed us that they clear All of Iraq’s debt . ” The Iraqi debt to Algeria was more than $ 142 million amounts withdrawn and outstanding, and more than $ 167 million interest due and unpaid, and more than $ 91 million fines for delay in payment, bringing the value of the debt total to more than $ 400 million. The Ambassador regrets the reluctance of a number of Arab countries to write off Iraq’s debt has, at the time rushed many Western countries to write off this debt, stressing that Iraq may Contact all the countries that have a debt to be written off. |
A Tale of Two Cities, Baghdad & Washington 