Iraq: Debt Relief (CRS Report for Congress)
| Release Date |
Revised March 11, 2005 |
| Report Number |
RS21765 |
| Report Type |
Report |
| Authors |
Martin A. Weiss, Foreign Affairs, Defense, and Trade Division |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
Iraq's public debt was estimated to be US$120.2 billion in nominal value as of the end of 2004. The debt owed to Paris Club creditors as of December 31, 2004, was estimated to be US$38.9 billion. The U.S. share of this amount is around $4 billion. Non-Paris Club countries, mostly Persian Gulf countries, are owed around $60-$65 billion. The remaining debts are to private commercial creditors. Iraqi debt relief (both Paris Club and non-Paris Club) is a high priority for both the President and Congress. This report will discuss efforts to implement Iraqi debt relief, as well as efforts to persuade non-Paris Club countries to forgive their Iraqi debts. It will also highlight several policy concerns. This report will be updated as events warrant.
