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037754
MDHIAN 926
COULD ANNOUNCE THAT THE US CONGRESS HAD PASSED LEGISLATION AGREEING TO THE WRITING OFF OF 6.7 BILLION DOLLARS OF EGYPTIAN MILITARY DEBT, BUT ALSO HOWEVER REQUIRING THE ADMINISTRATION TO CONVENE AN INTERNATIONAL CONFERENCE OF CREDITORS TO DISCUSS EGYPT'S DEBT BURDEN CIVIL AS WELL AS MILITARY.
15. FRANCE, NETHERLANDS, BELGIUM AND ITALY EXPRESSED CONCERN ABOUT THIS PROJECT, WHICH APPEARED TO USURP THE ROLE OF THE PARIS CLUB. JAPAN MADE THE SAME POINT, BUT ADDED THAT THEY DID NOT SUPPORT DEBT FORGIVENESS POLICIES. MULFORD STRESSED THAT HE WAS AWARE OF THE OVERLAP WITH THE PARIS CLUB'S WORK. THE ADMINISTRATION HAD NOT DRAFTED THIS PARTICULAR EDICT BUT NOW HAD TO PROCEED WITH IT. HE WOULD WANT TO WORK CLOSELY WITH THE PARIS CLUB TO ENSURE THAT THE US INITIATIVE COMPLEMENTED RATHER THAN CONTRADICTED ITS
WORK.
16. MULFORD CONCLUDED BY ENVISAGING A FURTHER MEETING IN DECEMBER/JANUARY. SARCINELLI WELCOMED THE INSTITUTION OF SHARED RESPONSIBILITY FOR MEETINGS, WHICH HE THOUGHT A USEFUL PRECEDENT, AND PREFERRED JANUARY FOR THE NEXT MEETING, GIVEN THE WEIGHT OF EC BUSINESS IN DECEMBER.
EGERTON
YYYY
ΜΑΙΝ
229
IRAQ/KUWAIT
LIMITED
ADDITIONAL 44
IRAQ/KUWAIT
(PASSED TO EMERGENCY UNIT)
NNNN
DISTRIBUTION
273
PAGE
MED
4
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