Debt forgiveness

Since whiffs of it began to seep into the news, I've wondered what this "debt forgiveness" campaign by the US, lately through envoy James Baker, was about. Now I understand. (Click on the "press releases" link.)

"Creditors" who financed Hussein's regime, including the US, were unlikely to be repaid by the new Iraq, so in the guise of forgiveness, they may see some money through IMF sanction of new, albeit lesser, debt, saddling the new Iraq with the sums.

This, like so many other matters the US is "handling" for Iraq, such as the opening of Iraqi commerce to foreign ownership, is done without legal sanction from a democratically founded Iraqi entity, and is done in furtherance of US commercial and political aims, leaving Iraq's truly-constituted government with nothing to do but design the national flag and compose the national anthem.