Iraq Debt Forgiven

cnn.com — The United Arab Emirates has forgiven the nearly $7 billion Baghdad owes it, according to Iraqi Prime Minister Nuri al-Maliki. UAE President Sheikh Khalifa bin Zayed Al Nahyan promised to "put out these debts," and appoint an ambassador to Baghdad, al-Maliki said in a written statement. Debt relief is a major issue for Iraq, and the United States has urged other nations to forgive Iraqi debt, most of which is held by Arab states, U.S. Deputy Treasury Secretary Robert Kimmitt said in late May.

Read Full Article »