Cablegate: Amf Signs Iraq Debt Rescheduling

VZCZCXYZ0013
RR RUEHWEB

DE RUEHAD #0758 1810402
ZNR UUUUU ZZH
R 290402Z JUN 08
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC 1139
INFO RUEATRS/DEPT OF TREASURY WASHINGTON DC

UNCLAS ABU DHABI 000758

SIPDIS
SENSITIVE

DEPT FOR NEA/ARP, NEA/I, EEB/IFD/ODF

E.O. 12958: N/A
TAGS: EFIN ECON IZ AE
SUBJECT: AMF SIGNS IRAQ DEBT RESCHEDULING

1. (SBU) On June 24, Dr. Jassim Al-Mannai, Director General and
Chairman of the Board of the Arab Monetary Fund told Econchief that
he had recently signed a debt rescheduling agreement with Iraq's
Minister of Finance in Jordan. Iraq is currently the largest debtor
to the AMF.

2. (SBU) In response to Econchief's question about whether this
would allow Iraq to once again tap AMF funds, Al-Mannai explained
that Iraq would need to demonstrate a repayment track record. By way
of illustration, he suggested that a positive one year repayment
history could be sufficient.

Quinn

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