Arab Monetary Fund writes off $100 million Iraqi debt; reschedules rest
Iraqi Finance Minister Bayan Jabr says the Arab Monetary Fund has written off $100 million in interest on Iraq's $500 million debt.
The two sides signed an agreement Saturday in Amman also rescheduling the remaining $400 million of Iraqi debt - incurred during the Saddam Hussein era - to the Abu-Dhabi-based fund over a period of 18 years. The fund, founded in 1976 and hosted by the United Arab Emirates, has 22 member countries including Jordan, Saudi Arabia, Kuwait and Egypt. (AP)