You are very funny guys
I wonder what would happen if they let you run an ant-farm for a week
Donnie Gangsta and strobi - External debt is an economical term which is only a part of the overall standing (or enforcable) debt.
p00p: Debt gotta be paid. Basic economics. Especially if reconstruction is to take place, especially if US or UN are to lead the process. They won't let Putin down ;) I think you feel confortable thinking its about oil - cause you don't have to think about it or try digesting the facts. Keep on. BTW - your quote about US$1.1T doesn't really contradicts anything I said, US$12B over 100 years even without including interest is far beyong the $1.1T. That is a hypothetical number which (if close to reality) describes the maximum potential of future contracts. considering future prospect can easily be 100 years or even 60 (with interest) that "could" qoute you gave says nothing really that I didn't say.
EscortBiz: Yep - a good advice to follow. I'll be waiting your return after you get it right.
Soul_Rebel: Don't bother. I see you are too busy working - thats why you got such a low number of post here
Amazingly - this wasn't even my source. Note - this is not CNN - this is a business oriented site.
http://www.busrep.co.za/index.php?fS...ticleId=121471
Quote:
Title: No clear funding for Iraq's renewal
The US has suggested Iraq could use $11 billion to $14 billion a year in oil revenues for reconstruction. But any attempt by the US to take Iraqi oil receipts would be on suspect legal ground, as there is about $142 billion in enforceable debt claims on the country as well as up to $300 billion reparations outstanding from the invasion of Kuwait, plus $57 billion in contracts signed by the Iraqi government.
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But with oil exports running at about $10 billion to $12 billion a year, there would not be enough money to finance humanitarian needs and debt repayments, even assuming a generous debt relief.
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Analysts calculate that Iraq debt payments alone would be $1.6 billion annually for the first five years, based on a 66 percent write-off and a five-year grace period, stepping up to $4.8 billion for the next 10 years.
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So how are these numbers stand with you - you economics experts?
