Iraq calls to forgive its debts 

(MENAFN - Aswat Al-Iraq) Iraqi Finance Minister Rafi' al-Issawi said Iraq demands that its debts from prior to the US-led invasion be forgiven, the BBC reported today.

The agency reported that Iraq called on the Arab countries to follow the steps taken by United Arab Emirates and Algiers, which forgave Iraqi debts.

"We call on Saudi Arabia, Kuwait, Qatar, Libya, Jordan, the Sudan, Egypt and Morocco to help Iraq closing its debts question," he added on the first day of Summit meetings.

The 3-day Arab League Summit began in Baghdad yesterday amid tight security measures, with some commenting it appears as though "the capital is choked."

The Iraqi government announced a five-day holiday, with hundreds of police and army patrols surrounding the capital.

22 Arab leaders will meet, or their representatives, where the Syrian question will dominate the talks.

It was reported that Iraqi debts reached in 2003 between 130-140 billion dollars, most of them were dropped in 2004 according to Paris Club agreement.

Some of the debtors had judicial verdicts and refused to join the Paris Club resolution.

The debts owed to Saudi Arabia reached 30 billion dollars and Kuwait about 22 billion dollars,
which represented the Iraqi invasion of Kuwait in 1990.