Iraq: Paris Club Debt Relief
Martin A. Weiss
Analyst in International Trade and Finance
Foreign Affairs, Defense, and Trade Division

Iraq’s public debt was estimated to be US$120.2 billion in nominal value as of the
end of 2004. The debt owed to Paris Club creditors as of December 31, 2004, was
estimated 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 - $65
billion. The remaining debts are to private commercial creditors. Iraqi debt relief is a
high priority for both the President and Congress (H.R. 2482). This report will discuss
efforts to implement Iraqi debt relief and highlight some policy concerns. This report
will be updated as events warrant.

Complete Report: