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November 22, 2004

James A. Baker, III gets results

This NY Times article reports on the agreement of The world's leading industrial nations to cancel 80 percent of the nearly $40 billion of debt that Iraq owes them, which is a critical step in rebuilding the country's devastated economy and an important precedent for placing pressure on Saudi Arabia, Kuwait and Iraq's other Middle Eastern neighbors to forgive Iraq's obligations owed to them.

Longtime Houstonian and former Secretary of both the State and Treasury Departments, James Baker III, who President Bush appointed last year as a special envoy to press Iraq's creditors to write off money owed them, toured the world over the past year persuading various foreign governments to sign on to the debt forgiveness plan. Kudos to Mr. Baker for a job well done.

Posted by Tom at November 22, 2004 6:43 AM |

Comments

guess you could say "good job"; but the united states would probably be held responsible for iraq's debts and all debts in the future.

Posted by: edward shiery at November 23, 2004 10:54 AM

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