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Kuwait to forgive Iraqi debts 19, January 2010

Posted by thegulfblog.com in Iraq, Kuwait.
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The Kuwaiti Foreign Minister has announced that Kuwait will forgive the outstanding Iraqi debt stemming from their two decade old invasion. He stated that Kuwait did not want anything but ‘good relations and security’. Theoretically, Iraq still owes Kuwait some $36bn from old loans and war reparations.

How Kuwait, a fantastically rich country with a tiny population, high levels of literacy, 100% employment for its nationals, one of the most generous welfare states on earth, free utilities, frequent loan forgiveness for nationals who can’t resist the latest Hummer, a comprehensive healthcare system and scant security issues given the US guarantees and continued presence on its lands, could have waited until now is beyond me. Better late than never, I suppose.