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A remaining problem, administration officials and many others said, is that the World Bank and other donors may be reluctant to make loans to Iraq before decisions are made on the $120 billion in outstanding debt it owes to other countries, not to mention the tens of billions of dollars in reparations it owes from its past wars.
Few expect anything like the contrition Germany showed to the Jews or the reparations it paid to Israel.
In the 19th century France, the former imperial power, kindly offered to have Parisian banks finance the reparations it demanded in exchange for recognising the country's independence.
But, although a 5% share of revenues is not full forgiveness of war reparations, it ought not to be unmanageable so long as the rest of Iraq's debt burden is reduced and it can borrow fresh capital from abroad.Here, a second part of the draft resolution tabled by America and Britain is intriguing.
While a new, United States-backed government may be able to renegotiate some of the reparations, it will be politically difficult to achieve debt relief for Iraq without offending many other countries, particularly in Africa, which have been pleading for debt pardons.
So in exchange for the $5 billion in reparations it is due to receive over 20 years, Libya will provide Italy with more oil, make it easier for Italian companies to conduct business there and place Italian companies "in first place" to win infrastructure contracts, Mr. Berlusconi said.
Similar(52)
The current working text, she said, "met two of our four red lines frontally, in the sense that it went no further than reparations and it did drop all references to Israel and all anti-Semitic language.
"They lived, worked and died in this city, and they never got their reparations -- it moved me," says Ms. Farmer-Paellmann, whose search for "tainted corporations" in the Northeast has turned up a dozen offenders.
If 50percentt of Iraq's future export income is diverted to paying down the debt -- more than three times the percentage extracted for German World War I reparations -- it would take more than 35 years to pay off current obligations fully, even after allowing for reasonable growth in oil exports.
A fine of just over $37,000 had also been imposed as reparations, but it was overturned by the Inter-American Human Rights Commission. Inter-American Human Rights Commission
This is not a "reparations" issue; it is a wage compensation issue between Japanese companies and their former "employees".
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