WASHINGTON, Dec. 5 (Xinhuanet) -- US President George W. Bush has named former secretary of state James A. Baker III as his envoy totackle the issue of Iraqi debt, the White House announced Friday.

    "In response to a request from the Iraqi Governing Council for assistance, I have appointed James Baker III to be my personal envoy on the issue of Iraqi debt," Bush said in a statement read by White House spokesman Scott McClellan.

    "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 statement said.

    "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," it said.

    The issue of Iraq's debt must be resolved "in a manner that is fair and does not unjustly burden a struggling nation at its moment of hope and promise," it added. Enditem