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December 20, 2004
Iraq Debt Write Off
US writes off $4.1bn in Iraq debt
http://news.bbc.co.uk/2/hi/americas/4106581.stm
Hypocrisy.
USG's recent conversion to the utility of debt relief is both unbalanced and opportunistic. Opportunism if fine however, the rather clear hypocrisy of the US position vis-a-vis Iraq and Iraqi debt is corrosive. Above all as there are solid reasons for a cautious approach to debt relief (moral hazard most importantly). While State Interest trumps moral hazard concerns in this situation, the incoherent approach of the current administration (and its clumsiness) are the wrong approach.
Posted by The Lounsbury at December 20, 2004 11:25 AM
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Aug-Dec 2004
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