Pledges to Rebuild Iraq Total $33 Billion (That includes our $20 Billion)

[NNN0LHI]

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20031024/ap_on_re_mi_ea/iraq_conference&cid=540&ncid=1480

MADRID, Spain - International donors promised more than $33 billion for Iraqi reconstruction in the next four years, officials said at a conference Friday. The figure fell short of the estimated $56 billion needed to rebuild the country.

While big spenders such as Japan and Saudi Arabia pledged more than some expected, much of it was in the form of loans or credits for a nation already burdened with an estimated $120 billion in debt run up during Saddam Hussein's rule.

After the two-day gathering of delegates from 77 nations closed, Spanish Finance Minister Rodrigo Rato said it raised $33 billion in pledges, a figure that did not include export credits, technical assistance or other non-cash aid.

The total included the $20 billion already promised by the United States. A senior U.S. official said earlier that the United States had counted "in excess of $13 billion" in new pledges, which he called in line with expectations.

more

[underpants]

1. I think they are more apprehensive of giving $ to W. than of uncertainty

I don't think that the stability of Iraq is a concern as much as their dealings with W&Co. has taught them they should be concerned. They surely know of W's business history and though Dick can at least turn a profit the international community is probably very concerned that all of this money will wind up in Bechtel and KBR's financial statements.

[Beetwasher]

2. Pathetic

There's so much distortion and propoganda it's obvious "they" are trying to confuse people as to exactly what went on at this donors conference. It was a complete flop and yet I've seen several headlines from different sources that would make it appear at first glance that it was a great success.

[underpants]

4. Remember the bumpersticker about the Air Force having a bake sale?

Somehting like "It will be a great day when every schools has enough books and the AirForce has to have a bake sale"

Well this is the bake sale and sales are way below covering costs.

That's the nice way to put it. Actually the President of the United States of America is panhandling. Begging. He has a f**king cup in his hand.

[caledesi]

10. Exactly! He has really embarrassed this country. Go home George!

[realFedUp]

3. Including the US taxpayer's $20 billion....

yeah and how much monetary aid have we already
given those "willing" nations....

[underpants]

5. The funny thing is that that has been settled yet

Yes the amount seems set but how it is delivered is still being discussed. But they blow in there acting like they have it in their back pockets.

[rfranklin]

7. These donations are being financed by we the taxpayers...

While the media will not dig deep enough to reveal the deals, I can personally guarantee that none of these countries are digging into their own pockets. They have been promised a rebate from the US Treasury or a cut of the spoil in Iraq.

[Galley_Queen]

6. Compare these stories

Compare your post's story with the following two stories.

http://story.news.yahoo.com/news?tmpl=story&u=/ap/20031024/ap_on_re_mi_ea/iraq_conference&cid=540&ncid=716

http://story.news.yahoo.com/news?tmpl=story&u=/nm/20031024/ts_nm/iraq_donors_dc_17


Chances are very good that by the time I post this, both stories will have disappeared from Yahoo News. The bottom line is the very first story I read this morning added up to about 2.5 billion IN MONEY that was promised. Didn't look good. Then that story was immediately replaced with the second story that made the numbers look better by including LOAN amounts and EQUIPMENT amounts. It was my understanding that the US was looking for 60+ billion (on top of what we're providing) in MONEY.

This story keeps changing.
On Edit: Amazing. The first story I posted is no longer available. It was there a few minutes ago, now it's gone and has been replaced by the 33 billion story. No kidding. The reason I noticed this is because this morning the headline was something like "large donations for Iraq but the actual story showed the donations at less than 3 billion. I told my coworker it was a great example of a hugely misleading headline. Now that story is gone, gone, gone.

[pretzel4gore]

20. somebody at yahoo....

is a fraud artist...conning yahoo's own clients/users(!!)
the '33 billion' stood out....very reassuring....

[Spazito]

8. This last litte statement is very interesting!

American officials stressed that the United States would administer all U.S. contributions — not the new fund set up here to be managed by the World Bank, the United Nations (news - web sites) and Iraqis.

In other words, if the US taxpayers were hoping that their money would be accounted for by a neutral body, or accounted for at all, it ain't gonna happen!

[underpants]

11. I'm sure they will put their best money people on it

[caledesi]

9. The whole thing is pathetic..* and his "Begging-For-$ Tour"

[papau]

12. Media whores forget "cash" 33 B includes loans

Of course the 33 B does not include export credits, technical assistance or other non-cash aid, ranging from tea from Sri Lanka to rice from Vietnam, and pilgrims spending cash as tourists from Iran!

So World bank says Iraq can absorb at most $6 B in 2004, and U.N. spokesman Bill Orme said Iraq would receive the $9 billion in grants it needs for 2004.

I understand. -- NOT.

How much in loans was on offer? And the Saudi export credit - and then loan forgiveness on part of the $24 B Iraq oews it - that should built a few houses.

And it seems these are including contributions in 2007! Sure hope most of the rebuilding is done by then. so we can start rebuilding the US. Indeed the Bush folks have promised no more requests after 2005 for aid - and you can trust the Bush word!

[nolabels]

14. They are going to have "pilgrims spending cash as tourists"

Just in time for an USA American Thanksgiving, I assume; please have understanding and patience, for only Neocons know of their own strange foolishness

[qb]

13. Donors Promise Iraq $33 Billion, Smashing Expectations

Spun beyond all recognition.
http://story.news.yahoo.com/news?tmpl=story&cid=578&e=2&u=/nm/20031024/ts_nm/iraq_donors_dc

"If you take the American contribution which is hopefully totally a grant, then we have at least $33 billion, of which $25 billion is grants," said Marek Belka, a former Polish finance minister...

Doesn't this amount to $5 billion above what the U.S. has promised? I don't hear any smashing.

[Beetwasher]

15. This is An Incredible Piece of Dishonest Tripe!

That 33 billion included this:

"The highest estimate for pledges from non-U.S. donors came from the Iraqis themselves. Planning Minister Mahdi Hafez told reporters they had matched Washington's promise of $20 billion."

So, apparently 20 billion of that 33 billion is supposed to come from Iraq!!!

[kainah]

19. so 20B from Iraq and 20B from US = $40 billion

But the story says $33 billion so apparently they've already built in the graft as well............. And I'll bet none of these stories will highlight the accusations from England's Christian Aid group that $4 billion, at least, has already been siphoned off. :eyes: :puke:

[Chango]

16. Has anybody added up the actual cash promised...

Not loans, loan forgiveness or trade credits, etc.

[Chango]

17. And why can we never get a straightforward statement?

These people couldn't tell the truth to their mothers.

[Gin]

18. Who needs money when they will have rice and tea?

gin

[karlschneider]

21. I fear that should read "rice OR tea"...........

:eyes:

[BigLed]

23. Calpundit has added it up

http://www.calpundit.com/

Grants equal but 2.3 million

[TexasPatriot]

28. ok - this is what i've got...

The Senate approved $10 billion in grants and $10 billion in loans.
The Japanese approved $1.5 billion in grants and $3.5 billion in loans (through 2007).
The Saudis approved $500m in 'export credits (we'll call those grants)' and $500m in loans
The European Union approved $812m in grants.
The IMF and World Bank promised $9.25 billion in loans.
Sri Lanka promised them 100 tons of tea.
Vietnam promised them $500,000 rice.
Kuwait promised $1.5 billion (but $1b of that is "already spent") - call it $500m in grants
The UAE promised $250m in humanitarian grants.
Iran promised $300m in loans ("project financing")
Spain pledged $300m in grants over 4 years.
South Korea pledged $200m in grants over 4 years.
Great Britain pledged $438 million in grants.
Italy offered $236m over 3 years (in unknown format - call it grants)
Canada offered $225m in grants.
Qatar offered $100m in grants.
The Phillipines offered $1m in grants.
Slovakia offered $290,000 in grants.

So thats roughly $15b in grants (including our 10)
and $23b in loans (including our 10)

so my question is...
if iraq can only sustain $80b in debt (http://www.nzherald.co.nz/storydisplay.cfm?storyID=3529782&thesection=news&thesubsection=world)

and it had $120b before...
now it's going to have $143b? This is helping? Helping who? KBR?

[wellst0nev0ter]

22. Success! The Iraq-A-Thon Is A Success!

Thanks to donhackman for the pic

[underpants]

31. Ed let's go to the tote board...Well Jerry............

(cue the band) To dream the impossible dream...........to beat the unbeatable foe..........

Very funny voted4wellstone

[loudsue]

24. Here's the list of donors.....from NPR "man on the scene"

Saudis = a hundred million or so, part grant $$, part loans, and part "trade credits".

Japan = $5 Billion - almost completely loans, some trade "benefits".

IMF = $8 Billion - loans

Other countries....a few million in loans.

U.S. of A. = $20 Billion

Total = $33 billion and some change - mostly loans.

Not exactly a mandate.

The spinmeisters are hailing this as some sort of MAJOR financial coup on behalf of the bush misadministration, trying to make it appear as if the whole world is pitching in. In truth, bush&Co. have GOT to be ABSOLUTELY FUMING!!! Humiliated before the entire globe. They sent Colon Bowel in with hat in hand, and he came out with a whole lotta shit that will leave Iraq in extreme debt, and Halliburton in extreme wealth.

:shrug: The world just doesn't want to play with Georgie! He'll just have to take his marbles and go home -- and try to make war on someone else, while throwing his tantrum.:shrug:

[Jazzgirl]

26. Hmmm...

I would just about change the U.S. of A. = $20 Billion to $28 Billion since we own 51% of the IMF!

Jazzgirl

[Spazito]

27. LOL I wondered if anyone would pick up on that part!

Yep, the US is paying WAY more than the 87 billion they KNOW about and, even more interesting, any monies committed by the US is NOT under the auspices of the group set up apart from the US to oversee the expeditures of the donations. Halliburton et al are doing very well.

[underpants]

30. This stinks of Enron accounting

double counting mony coming in and under reporting debt. One should not be surprised. They are throwing numbers around so that it is hard to get a concrete number and even harder to determine how they got to that number. It sounds better and even the most astute watcher (from news reports not the actual fund managers)loses track of the money.

Hmm wonder what will become of all that money.........

[peacetalksforall]

25. There was some woman associated with the conference quoted

as saying that the U.S. wanted to get about 50-60? billion and she would be surprised if they got 6 billion.

[0007]

29. "The Shake Down Artist"

Doesn't get too much - Now watch the junior cowboy and the Carlyle boys use muscle.

[snippy]

32. Halliburton is not going to like this.