Opinion | Editorials
UAE takes a lead by waiving Iraq debt
Without a lending hand from Arab states, Baghdad's future would only be bleak.
- Gulf News
- Published: 00:09 July 8, 2008
It is unquestionable that in order for Iraq to stand as a nation and prosper while building its future, all necessary means of assistance and support would be required and the recent decision taken by the UAE with regards to Iraq's debt falls within such a parameter. Without a lending hand - especially from its Arab neighbours - Iraq's future would only be bleak.
In writing off all the debts owed by Iraq to the UAE, the Emirates has brought forward a policy and a stance that many have opted to shy away from. The issue at hand is not how much has been waived but the very fact that the decision was taken forward. The UAE recognises very well that the road to recovery for Iraq is long and tortuous. It also realises that nations are not built just by financial numbers or figures. Iraq needs stability, an end to the cycle of violence, and a stop to its usage as a battleground by a variety of factions.
And it is within this context that the UAE has defined a course of action in its dealings with Iraq as the recent decision carries with it a more political weight than a financial one. "The UAE's decision to cancel the debts accumulated by Iraq is an expression of brotherhood and solidarity between the two countries and is to help the Iraqi government carry out its reconstruction and rehabilitation plans," said President His Highness Shaikh Khalifa Bin Zayed Al Nahyan.
Shaikh Khalifa who urged all groups, movements, and segments of the Iraq society to back the current government and denounce the use of violence, now highlighted what is needed.
For Iraq to move on reconciliation is a must and to achieve that, all have to join in as part of the process.
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