Iraq’s Odious Debt

I agree with these guys.

James Baker has just begun a trip to meet with creditor nations about Iraqi debt. I think he should give them an opportunity to establish a good relationship with the recently freed Iraqi people by making a grand gesture of forgiving the Iraqi debts. If they refuse, then the United States should suggest and support the new Iraqi government’s repudiation of these debts as odious.

It seems to me that it would be a good thing if tyrannical dictators had a harder time securing loans from prospective creditors, and unjust to saddle the Iraqi people with the debts of Saddam.If the creditors would like, we can agree to deliver any collection notices to the actual debtor at his undisclosed location.

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