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http://finance.news.com.au/common/story_page/0,4057,11462827%5E1702,00.html
Canberra excuses $1.1bn Iraq debt
November 22, 2004
AUSTRALIA will excuse Iraq $1.1 billion that it owes as the war-torn nation attempts to get back on its feet financially.
Australia has joined other countries in the Paris Club – an informal group of 19 creditor nations – to forgive 80 per cent of Iraq's debt.
The Department of Foreign Affairs and Trade (DFAT) said Iraq would begin repaying Australia the remaining $272 million it is owed from 2011.
Iraq owes more than $191 billion to about 40 countries, including reparation payments from its 1990 invasion of Kuwait.
Experts estimate Iraq's debt at more than 500 per cent of national production, one of the highest levels of external debt ever accumulated by a nation of its size.
http://www.abc.net.au/news/newsitems/200411/s1249140.htm
The Western Australian Farmers Federation (WAFF) says it is angry that the Federal Government has refused to pay money outstanding to wheat growers, after it cancelled billions of dollars of debt owed by Iraq.
As a member of the Paris Club of 19 creditor nations, the Federal Government has agreed that 80 per cent of the war-ravaged nation's debt should be written off.
Australia has agreed to start receiving payments on the remaining debt of $212 million it is owed by 2011.
WAFF president Peter Wahlsten says a debt of $125 million owed to Australian wheat growers incurred by Iraq between 1987 and 1990 is the result of Federal Government policy and it should now pay up.
"It's a moral obligation to pay growers out, because it was promised to the growers and that money was owed and I repeat that was owed to growers," he said."It wasn't owed to the (Federal) Government, it was owed to growers."
Dont you think the right and moral thing to do would be to pay the wheat farmers what they are owed out of Government coffers, and once Iraq starts paying the money back the government will save all that time and effort in locating all those owed monies.
When people work hard and send goods off in good faith BACKED by the government I think they should be paid as soon as possible . And I feel the government has the capabilities to do so.
Canberra excuses $1.1bn Iraq debt
November 22, 2004
AUSTRALIA will excuse Iraq $1.1 billion that it owes as the war-torn nation attempts to get back on its feet financially.
Australia has joined other countries in the Paris Club – an informal group of 19 creditor nations – to forgive 80 per cent of Iraq's debt.
The Department of Foreign Affairs and Trade (DFAT) said Iraq would begin repaying Australia the remaining $272 million it is owed from 2011.
Iraq owes more than $191 billion to about 40 countries, including reparation payments from its 1990 invasion of Kuwait.
Experts estimate Iraq's debt at more than 500 per cent of national production, one of the highest levels of external debt ever accumulated by a nation of its size.
http://www.abc.net.au/news/newsitems/200411/s1249140.htm
The Western Australian Farmers Federation (WAFF) says it is angry that the Federal Government has refused to pay money outstanding to wheat growers, after it cancelled billions of dollars of debt owed by Iraq.
As a member of the Paris Club of 19 creditor nations, the Federal Government has agreed that 80 per cent of the war-ravaged nation's debt should be written off.
Australia has agreed to start receiving payments on the remaining debt of $212 million it is owed by 2011.
WAFF president Peter Wahlsten says a debt of $125 million owed to Australian wheat growers incurred by Iraq between 1987 and 1990 is the result of Federal Government policy and it should now pay up.
"It's a moral obligation to pay growers out, because it was promised to the growers and that money was owed and I repeat that was owed to growers," he said."It wasn't owed to the (Federal) Government, it was owed to growers."
Dont you think the right and moral thing to do would be to pay the wheat farmers what they are owed out of Government coffers, and once Iraq starts paying the money back the government will save all that time and effort in locating all those owed monies.
When people work hard and send goods off in good faith BACKED by the government I think they should be paid as soon as possible . And I feel the government has the capabilities to do so.
