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UAE to cancel all of Iraq's $7B debt

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posted on Jul, 6 2008 @ 11:38 AM

UAE to cancel all of Iraq's $7B debt

DUBAI, United Arab Emirates (CNN) -- The president of the United Arab Emirates has agreed to cancel all of Iraq's debts to the country, an official government source said.

Sheikh Khalifa agreed to annul Iraq's nearly $7 billion in debt after meeting with Iraqi Prime Minister Nuri al-Maliki.

Debt relief is a major issue for Iraq, and the West has urged nations to forgive billions in Iraqi debt.

U.S. Deputy Treasury Secretary Robert Kimmitt recently said that a "significant majority" of the Iraq debt is held by Arab states.

"What is going on right now are technical discussions between the Iraqis and each of the Gulf Arab states, including the Saudis, on exactly what the amount of the debt is, whether that would include interest, what are the documents that would support the actual claim," he said in late May.

(visit the link for the full news article)

posted on Jul, 6 2008 @ 11:38 AM
This just doesn't seem right. I don't know, to just forget $7 BILLION someone owes you?
(visit the link for the full news article)

posted on Jul, 6 2008 @ 12:13 PM
This is really odd...

especially as I made a thread about Iraq paying 360million debt in cash to Bulgaria

And after reading this

Al-Maliki's government is seeking to develop close ties to all countries of the region.
only strengthens the idea of Iraq becoming a major military and financial hub for the entire middle east.

posted on Jul, 6 2008 @ 02:19 PM
This is excellent news. Another step towards helping the Iraqi people.

posted on Jul, 6 2008 @ 02:33 PM
reply to post by jsobecky

That's wonderful.

When is the US gunna get a little help with some debt too?

posted on Jul, 6 2008 @ 02:34 PM
reply to post by StephenF

I would say, very generous of them. I wonder if the UAE would pay my mortgage off for me

posted on Jul, 6 2008 @ 02:36 PM
reply to post by LostNemesis

The same time the US cancels their UK debt!

posted on Jul, 6 2008 @ 02:50 PM
Strange... 7 BILLION...

Thats madness... there HAS to be something under the table here...

7 billion is ALOT of money...

What happen, whats the deal? Somehting has gone down behind the scenes... I mean you dont go from oweing 7 BILLION, to being debt free out of good will right?

And, when is Iraq going to pay us back for liberateing thier sorry butts.

I mean, we speand an untold amount of money, and lost/had wounded WAY TOO MANY AMERICANS, all for wwhat?

Nothing, nothing, nothing nothgin nothing, we have got nothing ffrom Iraq, those ungratful #tes!

Losing one american life was not worth liberating that country.

The United States LIberated Iraq from Saddam Huessain, and they havent given us squat, we still have to police thier cities, and get our boys killed...

Iraq owes the US big time... like, lots of oil... start pumping... we liberated them, and now they should help us, how can the help us, they can help us by giving us petrol... its the least they could do

*** Apaerently, Shi ttes is a bad word... i mean, im no fan of that sect of muslim faith, but come one, do we have to block them?

[edit on 7/6/2008 by TKainZero]

posted on Jul, 6 2008 @ 03:10 PM
reply to post by Wotan

WW2 loans allready paid in full

but then again what about all the loans paid around the world prior to 1934? technically the UK owes the USA $40bln (adjusted) whilst themselevs are owed $104bln (adjusted)

posted on Jul, 6 2008 @ 03:13 PM
reply to post by TKainZero

Please, $7 Billion is nothing!

The US sent $12 billion in cold hard cash on pallets to Iraq and it just vanished without a trace. Source: Guardian UK

So this is relatively chump change. A symbolic gesture from the oil-rich UAE.

posted on Jul, 6 2008 @ 04:39 PM
thanks for that link, very interesting.

Come on the rest of the world, pay the UK back its £104 billion its owed, then we can pay back the US its £40 billion we owe it and then perhaps we in the UK can have a Tax rebate

posted on Jul, 6 2008 @ 05:07 PM

Originally posted by gottago
reply to post by TKainZero

Please, $7 Billion is nothing!

... A symbolic gesture from the oil-rich UAE.

indeed there is more than meets the eye going on here...

last year the news leaked from the Bilderbergers' that in 2008 oil would be allowed to sell in the range of $105- $150 bbl,,, and so it came to pass.

next, all this transfer of wealth from the global community and the commonly democratic 'Western' nations into the UAE and Abu Dhabi and Dubai is astounding !!! Its as if a master plan is in the process of creating a highly advanced series of high-tech cities, a super deluxe Financial district, World class leisure venues, like indoor snow skiing, world class golf and throughbred racing... Its as if the plan is to corrupt the Gulf States with hedonistic living and extravagance which the rest of the world will envy === even as the western worlds standard-of-living in in a controlled decline !

this gesture by the UAE was probably not rooted in Arab 'brotherhood' as the contentions between Shia and Sunni systems are seemingly to las forever.
No, i suppose the West, or at least the USA during Bush's mideast tour more than a month ago, put a bunch of diplomatic reasons on the table and used some military or fighter sales as an inducement...
lets say about $7 billion in arms, defense missiles, aircrafts, etc

or else the elusive Illuminati-Bilderbergs' have been pulling the strings on their Grand End-Game for the middle-east [and eur-asia later on]

(since Brezizenski is Obamas advisor, one should go review Z.Bs book, 'The Grand Chessboard" and deduce how this UAE gesture is a tactic
in a larger scheme)

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