Egyptian President Hosni Mubarak said reports on Egypt's decision to drop Iraqi debts were inaccurate, the official news agency MENA reported on Sunday.

In an interview with the state-run daily al-Messa, which was carried by MENA, Mubarak said no decision was taken on this score "since these funds are owned by the Egyptian people."

"These debts are not owed by the Egyptian government. (Instead), they are owed by Egyptian nationals," said Mubarak, without giving more details.

At an international conference on Iraq held in Egypt's Red Sea resort Sharm el-Sheikh early this month, media reports cited a senior Iraqi official as saying that Egypt has agreed to drop 800- million-dollar debt owed by Iraq.

Source: Xinhua