1、1 The Paris Club is an informal group of the eighteen countries, who as the major internationalcreditors, on occasion collectively reduce or reschedule official debts owed to them by poor anddeveloping countries. For more information, see CRS Report RS21482, The Paris Club. Congressional Research Se
2、rvice The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS21765Updated March 11, 2005Iraq: Debt ReliefMartin A. WeissAnalyst in International Trade and FinanceForeign Affairs, Defense, and Trade DivisionSummary Iraqs public debt was estimated to be US$120.2 billion
3、 in nominal value as of theend of 2004. The debt owed to Paris Club creditors as of December 31, 2004, wasestimated to be US$38.9 billion. The U.S. share of this amount is around $4 billion.Non-Paris Club countries, mostly Persian Gulf countries, are owed around $60-$65billion. The remaining debts a
4、re to private commercial creditors. Iraqi debt relief (bothParis Club and non-Paris Club) is a high priority for both the President and Congress.This report will discuss efforts to implement Iraqi debt relief, as well as efforts topersuade non-Paris Club countries to forgive their Iraqi debts. It wi
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