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Algeria cancels Iraq's debts estimated at 401 million dollars


k98nights
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Algeria cancels Iraq's debts estimated at 401 million dollars

The date of publishing 20/09/2011 07:55 AM

Baghdad – بابنيوز: A Iraq's ambassador in Algeria good Uday, the Algerian government officially informed the Iraqi counterpart to write off all Iraq's debts estimated at more than $400 million.

Good said, in a statement to the newspaper "the news" that he had received an official correspondent from the Algerian government to inform him survey all of Iraq's debt to Algeria, which has been more than $400 million, representing the amounts owed and implications of fines as well as the delay in payments.

Good God, he said that the embassy had before Algeria should make the necessary arrangements to survey these debts in full, especially since Algeria had been earlier said the survey, but the amounts owed only without calculating interest and fines of non-payment, " However, بمراسلة, informed *** survey all of Iraq's debt to Algeria."

Iraqi debts is to Algeria in more than $142 million in accounts and other outstanding, and more than $167 million in accrued interest and unpaid, and more than $91 million in fines the delay in payments, which raise the value of full debt of more than 401 million dollars.

Ambassador regrets reluctant a number of Arab countries on the Iraqi debt cancellation to it, at the same time, several Western countries to write off this debt, confirming that Iraq has, all countries with which it has debt with a view to removing them.

http://www.babnews.com/inp/view.asp?ID=45017

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Pretty much any country that has had any debts owing from Iraq has cancelled them, IMO...they all know that whatever all that Iraq possesses, that they could possibly utilize, as per their own country's needs...so do you know what this means...if they don't want the money, and they even now know that Iraq could be able to more easily now or in the possibly near future, be able to pay these outstanding issues, especially after watching them pay Kuwait billions, and then seeing the huge infrastructure rise up there in Iraq...that they simply want some of the pie, like everyone else is there for...making this country of Iraq so powerful and rich...from their oil, natural gas, sulphur, phosphates, etc., etc., etc...

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Unbelievable. Another free hand out. No one holds Iraq accountable.

I believe it's not the accountability factor, it's more akin to the "new kid in town" with the cool "things" that everyone wants to buddy up to so they can be a part of those cool things. You know- new kid/cool things... Iraq/OIL. Anyway. When you have the oil, you tend to make friends quick.

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I believe this bodes well for us dinarians, because Iraq won't have protection for their DFI funds unless they pay off all debts...and this is one big one they won't have to pay back. They're paying attention to some deadline and getting some important ducks in a row.

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