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Thursday, May 3, 2007 : 1559 Hrs


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    Iraqi PM calls on world to forgive his countries debts

    Sharm El-Sheik(Egypt), May. 3 (AP): Iraqi Prime Minister Nouri al-Maliki called on all countries today to forgive his country's foreign debts on the opening day of the Iraq conference.

    In another development, the United States looked likely to meet with some of its staunchest Mideast foes -- Syria and Iran -- at the strong urging of Iraq and other Arab countries at a summit here.

    In his speech opening the conference, al-Maliki also pledged to institute reforms that the United States and Sunni Arab governments have repeatedly called for, including bringing more Sunni Arabs into the Iraqi political process.

    Al-Maliki said forgiving Iraq of its debts was the only way the country could embark on much needed reconstruction projects.

    "The national unity government has embarked on a national reconstruction programme and needs huge finances for these project," he said. "We call on all the friends and brothers participating in this conference to forgive Iraq all its debts in order to enable it to start the projects."

    Iraq owes some USD 50 billion, notably to Saudi Arabia, Kuwait, Russia and China, according to Iraq's Finance Minister Bayan Jabr. The debts were run up mostly during former leader Saddam Hussein's war against Iran in the 1980s. Another USD 100 billion has already be written off by the Paris Club of lender nations.

    "We express our thanks and appreciation for all countries which have either cancelled or reduced the debts incurred on Iraq," al-Maliki said.


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