Kingdom Is Iraq’s Largest Creditor

BAGHDAD, 29 October 2003 — Iraq owes Saudi Arabia $25 billion (SR93.75 billion), making the Kingdom the war-ravaged country’s largest creditor, Al-Riyadh Arabic daily reported yesterday quoting the Iraqi finance minister. He estimated Iraq’s total foreign debt at $127 billion (SR476.25 billion). Kuwait is the second largest creditor with $12 billion. The Iraqi minister said he hoped creditors would slash his country’s debts to help it stand on its own feet and engage in reconstruction work.