Iraq’s soaring debt tests investor confidence

Published: 04 August, 2003

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As this beleaguered nation tots up its accounts payable, Mark Wallace asks whether debt forgiveness from the international community can pave the way to economic restoration.

For the Coalition Provisional Authority that has occupied Iraq since the recent war, rebuilding the country’s financial and economic system will prove as difficult as putting back together any of the tattered country’s physical infrastructure. And it will have ramifications that are just as far-reaching – not just for Iraqis but for the international financial community as well.