[Weekly Compilation of Presidential Documents Volume 39, Number 49 (Monday, December 8, 2003)]
[Pages 1760-1761]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement Announcing the Appointment of James A. Baker III as the 
President's Personal Envoy on Iraqi Debt Resolution

December 5, 2003

    Iraq is moving toward freedom, stability, and prosperity. In order 
to support this effort, I am pleased to announce today that in response 
to a request from the Iraqi Governing Council for assistance, I have 
appointed James A. Baker III to be my personal envoy on the issue of 
Iraqi debt. Secretary Baker will report directly to me and will lead an 
effort to work with the world's Governments at the highest levels with 
international organizations and with the Iraqis in seeking the 
restructuring and reduction of Iraq's official debt. The future of the 
Iraqi people should not be mortgaged to the enormous burden of debt 
incurred to enrich Saddam Hussein's regime. This debt endangers Iraq's 
long-term prospects for political health and economic prosperity. The 
issue of Iraq debt must be resolved in a manner that is fair and

[[Page 1761]]

that does not unjustly burden a struggling nation at its moment of hope 
and promise. James Baker's vast economic, political, and diplomatic 
experience as a former Secretary of State and Secretary of the Treasury 
will help to forge an international consensus for an equitable and 
effective resolution of this issue.