Saudi Arabia has decided to write off 80 per cent of the more than $US15 billion ($18 billion) it is owed by Iraq, Foreign Minister Prince Saud al-Faisal said.As part of its efforts to help Iraq rebuild, the Bush administration has been pressing Iraq's creditors to follow Washington's lead and write off debt they are owed by Baghdad.
Asked at a news conference at the Arab League in Cairo whether the kingdom had agreed to write off 80 per cent of Iraq's debt, Prince Saud said: “Yes, yes.”
Asked when the decision was reached, he said: “When we finished the negotiations with Iraq.”
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