Thread: Ratified Laws and Foreign Debt Relief

Federal Finance Minister: Iraq's foreign debt has not been resolved almost all the debt is non-Gulf
The Iraqi Finance Minister Bayan Jabr, the majority of Iraq's debt has not been resolved leaving only some of the Gulf of obsolete debts that date back to the beginning of the Iraq-Iran war,

As well as the religion of Poland's $ 100 million is hoped that the theme will soon be resolved

He added, according to Al-Zubaidi, "Middle East", published on Saturday that "the adviser to the Ministry of Finance to leave the capital, Warsaw, Poland, soon to resolve the issue of Iraq's foreign debt amounting to 100 million dollars."

Zubeidi has begun a visit to the Bulgarian capital of Sofia, four days before at the head of a delegation comprising Advisor to the Ministry of Finance, Aziz Jaafar, director-general of the Trade Bank of Iraq and Hussein Azri Abdullah Bandar Counsel of the Investment Authority, where he met with Bulgarian Minister of Finance to discuss ways of activating bilateral economic and trade committee and the joint bank which will hopefully contribute to the development of strong economic fundamentals between the two countries ..Zubeidi, praised "the role of the Bulgarian Government in fighting the Iraqi debt by 90% of the stock of debt of 3.51 billion dollars and which has opened a new page of the special relationship between the two countries."

And on the debt owed by Iraq to other countries, reported that Zubeidi "of the former regime had given loans to countries unable to meet their debts because they are poor and that Iraq had some of those putting out the debt by 100% and by 90%" ..He pointed out that "There is money given to the former regime, Iraqi people and members of the Iraqi government and efforts are being made to recover these funds."

"We got the $ 360 million was placed on behalf of the prosecution of a person after the person in question and a decision by the Swiss court the return of such funds, and recalls as well as minors in the city was registered in the name of a person" ..Stating that "This palace is now recorded on behalf of the Ministry of Foreign Affairs of Iraq."

In the last Zubaidi said that "Iraq's budget for this year passed a difficult gestation of the result of lower oil prices," ..He had been finally approved the new budget was put into effect a month ago, "she said .." amounting to approximately $ 60 billion, while last year's budget amounted to about seventy billion dollars, of which 48 billion, and basic to $ 22 billion supplemental. "

Was that "the current budget was built on the basis of 50 dollars per barrel, on the basis of export capacity by two million barrels a day."

The Zubeidi that "oil prices are improving", and expressed his belief "that it will stabilize between 60 and 70 dollars per barrel."

Recalled that the Federal House of Representatives approved on (5/3/2009) on the federal budget for 2009 an absolute majority of its members and the amount of $ 58.5 billion, or $ 1. 69 trillion Iraqi dinars, after reducing the amount of five trillion dinars .. While the Council approved the Presidency of the Republic by the beginning of last April. He favored "the possibility of addressing the problem of a drop of 10% of the quantities of oil export, because the scheme includes the export of two million barrels per day while we are now exporting 850 thousand million barrels of oil per day" .. He pointed out that this is the result of the need for infrastructure maintenance and foot-dragging in the activity of drilling new wells is not linked to terrorism or sabotage that

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Kuwait refuses to get out of Iraq before the Seventh item of compensation paid and the demarcation of border

Kuwait has refused to formally close the file on the compensation paid by Iraq, has five per cent of its oil revenues.

It also refused to transfer the rest of the files provided for in the resolutions of the UN Security Council to the door of the bilateral relations after Iraq submitted a formal request to the Security Council in this regard so that it can emerge from Chapter VII of the Charter of the United Nations.

The chancellor said in the Amiri Diwan Mohammad Abdullah Abul-Hassan, who arrived in Moscow yesterday that out of the seventh item sought by Iraq may not come until after the commitment to full implementation of international resolutions and the adoption of the United Nations, not Iraq and Kuwait, he said.

The Iraqi Foreign Minister Hoshyar Zebari had asked the Security Council what it considers Kuwait transfer files between the two countries pending the Security Council of the follow-up to the area of bilateral relations.

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Sent to the Iraqi threat, Denmark cancel Iraqi debt remaining

Under this heading, according to the bulletin of news on the DR 5-27, quoting from the newspaper Politiken that there are 282 Iraqis have rejected applications for asylum in Denmark by the Immigration Service by more than five years and intends to bring them back to their home country Denmark, as the agreement between Iraq and Denmark.

Although there are five insecure provinces close to Baghdad as the UN report. This came amid criticism from the representatives of many organizations, the Danish, as well as on the San Andreas Cam Secretary General of the Organization of the Danish assistance to refugees who face stinging criticism of the department of foreign affairs on the return of Iraqi requests for asylum rejected. He said that 128 of them will return to dangerous areas are in Iraq. But for its part, said the Immigration Service on the San Frank Johannes Chamber rely on other sources about the situation in Iraq, including the United Nations.

Part, has suspended the leader of the Danish People's Party that if the Iraqis rejected to send to Iraq was a threat to their lives what do we say to 23 million or more are now living in Iraq, she wondered!!??

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. The issue of Iraqi requests for asylum rejected back to the forefront again after many of them sit كوبنهاگن one of churches in the capital, demanding their right to residence in Denmark after serving ten years, some of them in refugee camps without access to the right of residence in this country.

In Denmark, another piece of news has canceled the remaining debt on Iraq, which constituted 20% (75 million kroons) of debt Almelgat the former and the move came against the backdrop of Iraq's agreement to receive the rejected asylum seekers. According to the Danish Minister for Development that Iraq's acceptance of this agreement, which came after a major consultation is part of continuing our assistance to Iraq. recall that this agreement was considered normal to the Danish People's Party, while vehemently criticized by the radical Left Party, which was considered a kind of blackmail. He also states that the revocation of Denmark with the full debt will provide 80 million kronor to help in the reconstruction of Iraq and this requires the approval of the Finance Committee in Parliament.

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Iraq's debt

Inherited the Iraqi economy, debt, close to 140 billion dollars, divided into four categories, the first members of the Paris Club and the second from outside the Paris Club of creditors and the third from the Arab Gulf states, and the fourth for the creditors of the banks and companies of the private sector and the fourth category much confusion and uncertainty marred by the absence of some documents and Othathag confirm the credibility of the debt, Iraq had begun to perceptions of such onerous since the time of the authority of Paul Bremer and the Governing Council as to build bridges with the relevant international financial institutions such as IMF and the World Bank, and since the beginning of the year 2004 issued a decision to the Paris Club to reduce Iraq's debt by 80% by agreement with the International Monetary Fund, according to the finalization of the debt sustainability analysis.

Iraq is being compared to a number of economic reforms, which form the basis for the signing of the aid provided by the Fund of the States usually after wars and unrest that is the reduction of debt, according to the Convention on the first three stages of 30% and the second and third as the 20% that did not exceed the end of last year 2008 has been agreed with Paris Club members had gone smoothly and all the wonderful foreign States, but the most interesting thing about the estimates of observers and specialists, and even the general public that this happened.

But the reluctance to reduce the debt of rejection by some Gulf countries, namely Saudi Arabia, Kuwait and neighbors, without giving a justification for the delay and insist on the assignment of the debt issue and compensation to the courtyard with the Security Council at the time of Tnteje keep us from foreign countries, millions of miles to extinguish the debt in full and this paradox is almost a kind of strange that there is no justification why the brothers in this position where that debt is a major obstacle to economic development and we do not want to engage in the political dimension, which bear such a position and that goes hand in hand here with the political economic dimension of this issue, but the impact will the development process and economic development will be significant in light of compensation and carry the debt burden of the national economy, which is looking forward to opening up to both internal and external to be there without the burden is the result of policies economic and political precedent for the new Iraqi Aithmlha presence.

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Sure do wish they would hurry up with this debt relief and maybe we would get our RV maybe

Iraq demands to reduce the proportion of the compensation withheld from its oil revenues for the benefit of Kuwait

Asked the representative of Iraq to the United Nations, Hamid al-Bayati, to reduce the proportion of the compensation imposed on Iraq, which has been deducted from the oil revenues to determine the discount rate. Bayati said Thursday in New York that Iraq had already been paid about 27 billion dollars in compensation to Kuwait decided upon by the United Nations after the invasion in 1990 and that he is still drawn to Iraq to pay about 25 billion another of what he described as a heavy burden.

Iraq and would be paid 5% of its oil revenues to a fund managed by the United Nations Compensation Commission, based in Geneva, the agency quoted diplomats as saying that Iraq wants to reduce this ratio to 2.5%.

Iraq is seeking to emerge from Chapter VII of money, which places him among the countries that pose a threat to global security, but Kuwait insists that the Security Council not to change the position of Iraq as long as its not fully apply, as saying.

Kuwait launched a diplomatic campaign claim to settle their differences with Iraq on the demarcation of the border and found the remains of the missing and the investigation of the property stolen during the seven months of the occupation of the former Iraqi regime of its territory.

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Hamid Al-Bayati: Iraq to pay about 27 billion dollars to Kuwait

The representative of Iraq to the United Nations, Hamid al-Bayati said Iraq had already been paid about 27 billion dollars in compensation to Kuwait decided upon by the United Nations after the invasion in 1990.

Al-Bayati said in a press briefing in New York that he was still drawn to Iraq to pay about 25 billion another of what he described as a heavy burden.

Asking to reduce the proportion of the compensation imposed on Iraq, which has been deducted from the revenues of oil.

Iraq is seeking to emerge from Chapter VII of money, which places him among the countries that pose a threat to global security, but Kuwait insists that the Security Council not to change the position of Iraq as long as its not applied in full.

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Iraq seeks to settle the debt file the end of the year

Iraq is seeking to settle the debt issue with Arab and foreign countries the end of the year once, on three tracks. Revealed that the "morning," a member of the Economic Committee in the House of Representatives Deputy Ahmad Sulayman al-Alwani, said the coming period will witness the meetings and interviews with officials from the creditor nations to urge them to take positive decisions on Iraq.

The Finance Minister Bayan Jabr said Iraq started the adoption of a new trend in dealing with the remainder of the debt in some countries, stressing that the government is currently working to resolve the issue of reparations claims against Iraq, through the benefit of protection provided by the administration of U.S. President Barack Obama's money Iraqi abroad. He said al-Alwani: move to close the file of the debt depends on the three tracks by the government through the Ministry of Finance, in coordination with the House of Representatives, explaining that these themes are: direction to urge States to cancel the debt entirely, or 100 percent, or persuade that have abolished the 80 percent of the debt to extinguish the remainder of the investment by providing them with opportunities, or debt in the long run, without counting the benefits of the country's constraints, but he stressed that there is no desire to adopt the last option.

It should be noted that Iraq was able to abolish the reduction of between 90 to 100 billion dollars over the years that followed the fall of the regime Alambad. and a member of the Economic Commission continued: "It is up to now there are no firm statistics on the amount of debt on Iraq, indicating that most of (debt) is accrued interest of the country during the former regime, calling on States to extinguish the debt because it will shackle the political and economic development plans and weaken.

He added that Iraq's debts to a number of States and must be retrieved, noting that Arab states must write off all debts, in particular, and it is still demanding a "haughty" debt. dropped Tunisia and the UAE recently on Iraq debt, while keeping all from Egypt, Kuwait and Saudi Arabia on its debt despite the fact that the Arab foreign ministers recently adopted, the text of a draft resolution on Iraq under a special paragraph debts, namely: (emphasis on the speed of the member states to cancel debts of Iraq pursuant to paragraph (15) of the resolution of the Khartoum Summit (No. 340) on 3-29-2006. In a related part, "Al Sabah" from informed sources that the government will intensify in the coming days of the movement to reduce the compensation paid by Iraq to Kuwait, which amounts to 5 percent of oil imports, due to Saddam's invasion of the latter he said. Iraq's Ambassador to the United Nations, Hamid al-Bayati said in front of a special session of the UN Security Council last week: "Iraq has sent a formal request to the United Nations Secretary General Ban Ki-moon and UN Security Council asked it to reduce the amount of compensation to Kuwait," noting that "the country needs more money for service projects and reconstruction.

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Iraq hold meetings and meetings with the "creditor Nations"

A member of the Economic Committee in the House of Representatives Ahmed Sulayman al-Alwani, the next term will see the meetings and interviews with officials from the creditor nations to urge them to take positive decisions on Iraq.

Al-Alwani, said in a press release published on Sunday that the new direction to close the file of the debt depends on the three tracks by the government through the Ministry of Finance, in coordination with the Council of Representatives.

He said the focus is to go to urge States to cancel the debt entirely, or 100 percent, or convince the States that have abolished the 80 percent of the debt to extinguish the remainder of the investment by providing them with opportunities, or debt in the long run, without counting the benefits of constraints the country.

It should be noted that Iraq was able to abolish the reduction of between 90 to 100 billion dollars over the years that followed the fall of the regime Alambad.

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Zubeidi expresses optimism about the position of Saudi Arabia and Kuwait on debt

The Finance Minister Bayan Jabr was optimistic attitude of Saudi Arabia and Kuwait on the debts of Iraq.

Zubeidi expressed in a press release published on Wednesday expressed optimism in the possibility of resolving the issue of debt outstanding at the same time stressing that the Iraqis will soon hear the news of the Saudi and Kuwaiti debt cancellation, he said.

On a related level Zubeidi ruled out the possibility that the country needed loans from the World Bank or the use of quota on Iraq at the International Monetary Fund to bridge the budget deficit in 2009.

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