[Weekly Compilation of Presidential Documents Volume 40, Number 48 (Monday, November 29, 2004)]
[Page 2851]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the Paris Club Agreement To Reduce Iraq's International 
Debt

November 21, 2004

    I congratulate the Iraqi Interim Government and the Paris Club of 
creditor nations for today's agreement to reduce dramatically Iraq's 
international debt. The Iraqi people have an historic opportunity to 
build a free and democratic Iraq after more than two decades of 
political oppression and economic devastation under the brutal regime of 
Saddam Hussein. The Paris Club agreement represents a major 
international contribution to Iraq's continued political and economic 
reconstruction. I encourage non-Paris Club creditor nations to agree to 
comparable debt reduction for Iraq.
    The Paris Club leadership deserves particular thanks for its efforts 
in making this agreement possible. I also commend Secretaries Powell and 
Snow and Special Presidential Envoy James Baker for their tireless 
efforts in working with creditor nations to reach this agreement.