Wheat farmers chase money from Iraq — BlackSeaGrain:
"Some wheat farmers are calling on the Australian Government to step in and pay out farmers who are still owed money for sales to Iraq in the 1980s.
Iraq defaulted on a debt to the Australian Wheat Board due to the first Gulf War and trade sanctions in 1990, leaving 49,000 Australian farmers out of pocket.
About 80 per cent of the $480 million debt was recouped through the Australian Government's Export Finance Insurance Corporation, but millions of dollars were left owing.
A meeting of international governments, known as the Paris Club, agreed in 2004 to cancel some of the debt owed to Australian wheat growers and set a repayment plan for US$50 million."
'via Blog this'
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