UAE cancels entire Iraqi debt

[DesertFox]

The United Arab Emirates has cancelled the entire debt owed it by Iraq, which totals just under $7-billion including interest and arrears payments, a UAE diplomatic source told Reuters on Sunday.

Iraq and the United States have been calling on Arab neighbors to join Western nations and forgive their share of Baghdad's outstanding foreign debts that total up to $80-billion.

The UAE's official news agency said the principle debt equals around $4-billion loaned to Iraq at different times.

Source (http://www.theglobeandmail.com/servlet/story/RTGAM.20080706.wuaedebt0706/BNStory/International/home)

[DesertFox]

You gotta admit, that was white of the UAE.

[Timberwolf]

raciss bastid, you....:grin:

We're forgiving Iraq's debt...I'd make it contingent on them completing the task of getting their act together. So far, so good...but a lot can happen is a very short period of time over there.

[Maggie_T]

The United Arab Emirates has cancelled the entire debt owed it by Iraq, which totals just under $7-billion including interest and arrears payments, a UAE diplomatic source told Reuters on Sunday.


Well, they had to, of course. That nuclear stuff Ahmadinejan is building doesn't come free, you know.

[Riverboat]

Could they throw in a few gallons of gas while they're at it?

[Rhino]

We're forgiving Iraq's debt...I'd make it contingent on them completing the task of getting their act together. So far, so good...but a lot can happen is a very short period of time over there.If they screw up, we'll charge it to their VISA card.

[Rhino]

Well, they had to, of course. That nuclear stuff Ahmadinejan is building doesn't come free, you know.That's Iran, not Iraq.