The problem of Iraq's debt
The problem of Iraq's debt
Associated with operations to pay debts of Iraq's large oil revenues exclusively through deductions information and rates approved by the UN Security Council resolutions as the form of depriving Iraq of ways and means and methods used by the States in the payment of debts and deprived him of the advantages and implications of bilateral agreements and economic transactions and trade, which would allow the country debtor more flexibility in the payment of What his trust.
The decision to link the compensation of Kuwait and other creditors of the oil and draw specific mechanisms, binding and Astqtaatha of oil revenue and money the Development Fund for Iraq has damaged the Iraqi economy a lot.
If the period before 2003 was justified as a result of the nature of Iraq's political system lacks legitimacy, the period following the liberation requires a reconsideration of the mechanisms of compensatory so that to give the Iraqi economy, greater strength and rigidity and flexibility to deal with debt in accordance with international concepts accepted in payment and also fall within the concept of international sovereignty, as it is unreasonable to continue to treat Iraq over the past period on the basis of weakness and lack of ability to handle international despite the fact that the formation of the Development Fund for Iraq was the blessing of the national was to renew the immunity at the request of Iraq, but this act omitted the economic principle whatever is possible to adapt according to new data , shifts and bilateral agreements, investments and trade away from the direct payment, as the keen of countries to deal with debt by methods novel does not weigh heavily on their economies according to the permissible limits on the basis of international resolutions that prohibit deduction of debt at the expense of the living situation of those countries, in June of this year, period ends Another extension of the work of the Development Fund for Iraq, and that means that creditors can establish a claims reserve for debt targeting Iraqi funds from abroad and transactions of a commercial nature purely subject to prosecution if they proved to be not for the purposes of a sovereign in the sense that the debt that fall under the concept of debt is a business that can be set up proceedings in respect thereof are subject to consideration when the competent courts conflict trade and others, and this topic occupies the importance in maintaining the revenue Iraq's financial farcical high percentage for the purposes of living need to be remedied and a swift move that can preserve their financial dealings and commercial transactions and without hesitation, should be involved in financial and monetary institutions, banks and academics at a symposium focused and go out with guidance and recommendations can serve the executive authority to act and take advantage of their contents as long as the period of immunity must end and must be an actual confrontation where they can resolve many of the issues-style compromise and not necessarily the obligation figures contained in the cases supposed, because many of them, according to information which ran a certain amount of inaccurate and is not involving any other party Iraq to hear their views about it and stand on the validity and sovereign right. that the size of the remaining debt owed by Iraq for the compensation the State of Kuwait is not great, after it was put out 80 percent by the Paris Club countries, but this does not mean that the Iraqi economy equipped to carry and paid directly by the move must get off the countries that still did not extinguish the debt, including a number of Arab countries, including Saudi Arabia and commercial debt related agreements and contracts and requests for companies, etc.
They need to organize and plans that can deal with it according to the requirements of the public interest and in the light of the strength of the Iraqi economy can preference the creditor nations and commercial account profits from trade with Iraq and thus become the methods of direct payment distant and somewhat back on the economy benefit and provide him with antibiotics. It is true that the conditions of issuance of the international resolutions related to procuring compensation made against the backdrop of the political situation of Iraq during the period that preceded 2003, but that effect to this date and use the means of the threat is not acceptable, at least in light of the new Iraq is ready to open new horizons with all countries including those affected by the war in Kuwait.
Of the simplest rights of Iraq is the choice of method to pay its debts and through bilateral agreements and new contracts, especially that of the advantages of the Iraqi economy, the ability to grow and enjoy the largest Platform for importing in the region and individual countries benefiting from it and non-interest fire restrictions Iraq in international relations as a full state sovereignty and right to select the method by which the payment of its debts outside of the compensation system, which we accepted and people are forced to bear.
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