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Viewing cable 04MADRID4485, SPAIN FORGIVES IRAQ PARIS CLUB DEBT

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Reference ID Created Released Classification Origin
04MADRID4485 2004-11-24 14:21 2011-08-24 16:30 UNCLASSIFIED Embassy Madrid 
This record is a partial extract of the original cable. The full text of the original cable is not available.

241421Z Nov 04
 
UNCLAS MADRID 004485 
 
SIPDIS 
 
E.O. 12958: N/A 
TAGS: EAID EFIN SP
SUBJECT: SPAIN FORGIVES IRAQ PARIS CLUB DEBT 
 
 
Econoff spoke with Ministry of Economy and Finance Assistant 
Deputy Director for International Financing Systems Mario 
Delgado Alfaro regarding Spain's forgiviving USD 482 million 
of Iraqi Paris Club debt.  This equals 80% of the total USD 
602 million Iraqi debt held by Spain.  Delgado emphasized 
that the decision was an agreement between the government of 
Iraq and the Paris Club creditors.  He chided the articles in 
the Spanish press that indicate this was a bilateral Spanish 
decision motivated by American pressure.  The official 
Ministry of Economy and Finance statement stated, "Spain 
endorsed this accord because it considers it a necessary 
measure of support for the Iraqi people as they try to 
overcome the current, grave situation." 
MANZANARES