By Xinhua,
Amman : The Abu-Dhabi-based Arab Monetary Fund has written off 100 million U.S. dollars out of Iraq’s a total of 500 million dollars debt, a visiting Iraqi official revealed here Saturday.
Iraqi Finance Minister Bayan Jabr made the confirmation at a press conference after Iraq and the Arab fund signed an agreement in this regard.
Many Western nations have dropped Iraqi debt but Sunni Arab neighboring states, wary of Iraq’s Shiite-dominated government and its ties with Iran, have been reluctant to follow suit.
The Arab Monetary Fund, founded in 1976 and hosted by the United Arab Emirates, has 22 member countries including Jordan, Saudi Arabia, Kuwait and Egypt.