Joint Statement Agreed to by President Bush, President Chirac, and Chancellor Schroeder

Debt reduction is critical if the Iraqi people are to have any chance to build a free and prosperous Iraq. Therefore, France, Germany, and the United States agree that there should be substantial debt reduction for Iraq in the Paris Club in 2004, and will work closely with each other and with other countries to achieve this objective. The exact percentage of debt reduction that would constitute ''substantial'' debt reduction is subject to future agreement between the parties.