Iraq owes SA R159.4 billion, says Manuel

http://www.bday.co.za/bday/content/direct/1,3523,1481700-6078-0,00.html

The Iraq Government or private or public entities controlled by it owed R159.4 billion to the Export Credit Insurance Corporation of South African Limited, Finance Manuel Trevor Manuel has reported.

In a written reply to a question from Inkatha Freedom Party finance spokesman Gavin Woods, the minister said that the Iraqi Ministry of Defence owed an outstanding amount of about 135 million rand on an original amount of nearly 400 million rand regarding three contracts.

Hutteen General Establishment of Iraq and SAAD General Establishment of Iraq still owed 439,000 rand and 22.5 million rand respectively on orginal amounts of 2.3 million and 131.3 million rand respectively.
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Lotta green there. Of course, the Iraqi debt has nothing to do with anyones posturing or our insistance that it be forgiven in the name of "Democracy."