MADRID, Nov. 22 (Xinhuanet) -- The Spanish government announced here Monday that it will write off 80 percent of Iraq's debt, or 482 million US dollars, to help rebuild the war-torn country.

    According to the Finance Ministry, the relief would be broken up to three stages. In the first stage, the Spanish government will cancel 30 percent immediately and the other 50 percent will be canceled in the second halves of 2005 and 2008, respectively.

    The total debt that Iraq owed to Spain stood at 602 million dollars.

    The measure is part of Spain's efforts to help Iraq out of the current economic difficulty, as well as a kind of support to the Iraqi people, said the ministry.

    On Sunday, major creditor nations of the Paris Club, including the United States, Britain, Germany, France and Spain, reached an agreement in Berlin to write off 80 percent of Iraq's debts.

    According to the Paris Club, Iraq's foreign debts have swollen to around 120 billion dollars, 42 billion of which was owed to Paris Club countries. Enditem