TRADE: Behind Iraq’s $700 million wheat debt*

The Financial Review (June 3) reported that “the Federal Government and the grains industry” had forgiven Iraq a $A700 million dollar debt covering wheat sales to Iraq in the period 1987 to 1990.Apparently, the debt to Australia is part of what is said to be the sum total of Iraq’s total debt to the rest of the world of about $US150 billion.Ours may not seem much, but it means a lot to Australia and to our wheat industry. Of the $A700 million owed for Australian wheat, the industry itself will c…

Sorry, you don’t have access to this content. Please log in or email [email protected] for help.