SA writes off Iraq debt worth R901m

BTTB

BTTB

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SA writes off Iraq debt worth R901m
Huh? :confused:

That's wonderful!
I have got no problem with the writing off of the debt, but who in their right mind does such a thing when the country in question that owes the money sits on about 60% of the worlds known Oil Reserves.
How about sending a few free tankers of oil over instead? If anyone did not notice the price of petrol is a few cents short of R7 a litre and with the Oil Price moving through $70 a barrel in the last day or so, I can only imagine our petrol price is going to go up again next month.

Edit: Rank Order - Current account balance
Rank: Iraq 25 (+$8Billion); South Africa 153 (-$12Billion). Estimate 2006.
 
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I may be wrong, but hasn't the US been campaigning for countries to write-off Iraq's debt?

It may be SA negotiated something with the US.
 
The reason for us backing this plan become obvious from the following articles.

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=nw20070503181033652C431395

http://www.africaaction.org/newsroom/index.php?op=read&documentid=493&type=14

http://www.odiousdebts.org/odiousdebts/index.cfm?DSP=content&ContentID=7116

In other words. If we write of this debt by Iraq we could apply to have the $18 billion lent by the apartheid regime in the last 15 years of their reign scrapped. So $130 million written of with a return of $18 billion. I call that a good move.

Edit. PS Iraq only owes the US about $2 billion. Small change to America.
 
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Myrrdin said:
The reason for us backing this plan become obvious from the following articles.

http://www.iol.co.za/index.php?set_id=1&click_id=123&art_id=nw20070503181033652C431395

http://www.africaaction.org/newsroom/index.php?op=read&documentid=493&type=14

http://www.odiousdebts.org/odiousdebts/index.cfm?DSP=content&ContentID=7116

In other words. If we write of this debt by Iraq we could apply to have the $18 billion lent by the apartheid regime in the last 15 years of their reign scrapped. So $130 million written of with a return of $18 billion. I call that a good move.

Edit. PS Iraq only owes the US about $2 billion. Small change to America.
Click to expand...

The plot thickens.
As they say the devil is in the detail.

Oh well if that the way it is going to pan out then we are better off.
Perhaps the media needs to tell the 5% they always leave out.

Viva
 
South Africa has lots of money to splurge. I mean, Goverment can fork out R2m for a stadium building party in Nelspruit. SARS tax income is the highest ever...must be nice to not know/care what to do/happens to your cash huh...
 
Oh, seems there is a good reason. Who thought of this idea?
 
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