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Old 07-06-2008   #1
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Default UAE waives billions of Iraqi debt

From BBC's 6 July 2008 article

Iraq's debt has been reduced by about $66.5bn over the past three years, not taking into account Sunday's announcement by the UAE, according to the US state department.

Of that, the Paris Club of 19 developed countries cancelled some $43.2bn.

Iraq's foreign debts currently total up to $80bn, Reuters news agency says, with Saudi Arabia and Kuwait among the biggest creditors.

In another sign that its diplomatic isolation may be easing, the Iraqi government has said it expects a visit soon from Jordan's King Abdullah.

He would be the first Arab head of state to visit Iraq since the 2003 invasion.
From the World Factbook

GDP (purchasing power parity):
$102.3 billion (2007 est.)
GDP (official exchange rate):
$55.44 billion (2007 est.)
GDP - real growth rate:
5% (2007 est.)
GDP - per capita (PPP):
$3,600 (2007 est.)
GDP - composition by sector:
agriculture: 5%
industry: 68%
services: 27% (2006 est.)
Labor force:
7.4 million (2004 est.)
From the Economist

GDP per head ($ at PPP) 3,500(2000) 3,280('01) 2,980 ('02) 2,270('03)
GDP (% real change pa) 4.00(2000) -6.00 ('01) -6.50 ('02) -21.80('03)
Sapere Aude

Last edited by Surferbeetle; 07-06-2008 at 06:35 PM.
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