Australia's $600m gift to Iraq

[Barrett808]

Australia's $600m gift to Iraq
By Luke McIlveen and Nick Butterly
30may04

AUSTRALIA will forgive Iraq a $600 million wheat debt in an extraordinary act of generosity to be announced by the Federal Government this week.

Taxpayers will contribute $500 million to the bail-out package for the war-torn country and wheat farmers will be asked to write off $100 million in debts.

The gift is part of a worldwide plan by countries in the "coalition of the willing" to help put Iraq back on its feet by writing off huge loans.

Countries that did not send troops to Iraq - such as Russia, China and Canada - are also preparing to waive massive debts.

Iraq owes Australia about $700 million for wheat shipments made before 1990, but Trade Minister Mark Vaile said it was in the interests of farmers and taxpayers for most of the debt to be forgiven.

(more)

http://www.themercury.news.com.au/common/story_page/0,5936,9695494%255E401,00.html

[glitch]

1. Class

At least some people have it somewhere.

[anakie]

2. Australia waives the debt

600 million back in the kitty for Haliburton

[daleo]

3. Probably a little U.S. arm twisting going on, as well

They are the occupying power, so they may be responsible for the debts. At any rate, they would like the puppet government to start with a fairly clean slate. But, as for Canada etc., you can't get blood from a stone, so they might as well forgive the debts.