BERLIN, Nov. 20 (Xinhuanet) -- Major creditor nations of Iraq reached an agreement here on Saturday to write off 80 percent of the country's debts, officials said.

    The Paris Club, which is composed of Iraq's creditor nations, will publish an official statement on the agreement later Saturdayon the sidelines of the Group of 20 meeting, said officials attending the gathering.

    Up to 80 percent of Iraq's 120 billion US dollars debts will bewritten off in three stages, they said.

    Finance ministers and chiefs of central banks of the Group of 20 major economies began meeting here on Saturday to discuss ways to solve global financial problems. Enditem