Sami Moubayed summarizes the state of, and stakes with Iraq's debt. He writes that Iraq has so far paid half of the reparations imposed on it in the wake of the first Gulf War to compensate other countries, most notably Kuwait, for the invasion. Iraq has so far paid Kuwait $11 billion. However, Maliki has asked the UN to cancel Iraq's debt:
"This weekend, Maliki forcefully asked United Nations Secretary General Ban Ki-moon to cancel all accumulated penalties forced on Iraq after the invasion of Kuwait in 1990. In 1991, the UN passed resolution 687, forcing Iraq to pay an approximate US$50 billion in compensation to Kuwait and other Arab countries. This money would be deducted in 5% from oil revenue in Iraq. To date, Iraq has paid $25 billion, much to the displeasure of all Iraqis - Sunnis, Shi'ites and Kurds."
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