- News>
- World
G7 to discuss rebuilding Iraq economy
Washington, Apr 11: Group of seven powers will discuss rebuilding the Iraqi postwar economy and dealing with its massive debt this weekend, US Treasury Secretary John Snow has said.
Washington, Apr 11: Group of seven powers will discuss rebuilding the Iraqi postwar economy and dealing with its massive debt this weekend, US Treasury Secretary John Snow has said.
Snow said he expected "substantive discussions" with the
G7 finance ministers and central bankers, and with the
124-nation International Monetary Fund and World Bank, about
how to help the Iraqi recovery.
"It is important to recognise there that it is not simply recovering from 25 days of conflict but rather the task ahead is recovering from 25 years of economic misrule and mismanagement," snow told a news conference.
Snow is to dine today and meet formally tomorrow morning with his colleagues from the G7 nations -- Britain, Canada, France, Germany, Italy and Japan. Russia will join part of the talks. He then joins meetings of the IMF and World Bank over the rest of the weekend.
US President George W Bush had emphasised that international institutions would have a vital role to play in the reconstruction of Iraq after the war, snow said.
He urged the World Bank, the IMF and other institution to offer their expertise and technical assistance as soon as possible. World Bank President James Wolfesohn told a news conference earlier that he would ask his board of governors for approval before seeking to make an appraisal of Iraq's needs.
Bureau Report
Snow is to dine today and meet formally tomorrow morning with his colleagues from the G7 nations -- Britain, Canada, France, Germany, Italy and Japan. Russia will join part of the talks. He then joins meetings of the IMF and World Bank over the rest of the weekend.
US President George W Bush had emphasised that international institutions would have a vital role to play in the reconstruction of Iraq after the war, snow said.
He urged the World Bank, the IMF and other institution to offer their expertise and technical assistance as soon as possible. World Bank President James Wolfesohn told a news conference earlier that he would ask his board of governors for approval before seeking to make an appraisal of Iraq's needs.
Bureau Report