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$100m Iraq wheat debt written off
31 May 2004
Australia's wheat farmers have been forced to write off a $100 million debt owed for wheat sold to Iraq before the first Gulf War. The deal is part of a larger plan by the Australian Government to forgive $600 million of Iraq's old wheat debts.
The deal caught AWB by surprise yesterday when details were leaked. Spokesman Peter McBride said he was unware a decision had been made. The money is owed directly to farmers and many had hoped they would be paid.
A spokesman for Trade Minister Mark Vaile said the wheat farmers will have to give up the debt and there was very little prospect of its ever being repaid. He said the wheat farmers are “realistic”.
The Grains Council of Australia was not available for comment yesterday.
The Age, 31/5/04.
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