Thread: Ratified Laws and Foreign Debt Relief

IMF renews demand to end the Iraq debt

The adviser at the CBI, on Wednesday, the IMF renewed its call on Iraq to end its debt outstanding files that hinder the movement of the Iraqi economy.

He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) "The IMF renewed its call to the Ministry of Finance and Central Bank need to develop a convincing solutions to the crisis of external debt in order to facilitate the move of the financial Iraqi banks."

He added that "the CBI believes that the node did not develop the Iraqi economy due to the weights of the country files of debt and borrowing and damages the political movement that prevent the Iraqi economy are free."

And that "the file to resolve Iraq's debt would stimulate economic activity, and then release the constraints of the government and private banks and also will contribute to Iraq's entry into the World Trade Organization."

The team was Iraqi to join the World Trade Organization was established in December 13 / December 2004, and presented a memorandum to obtain membership of the Organization on 16 September 2005, the adoption of Iraq, an observer in the January 24, 2007, and began the meetings of the first round of the Group work in 2007, followed by a second round of meetings in 2008, then the third round the end of 2009

The Central Bank of Iraq to end 90% of the file's internal debt traders and private companies, according to the Paris Convention, which Iraq has fulfilled its obligations to the entire private sector, which Yun part of the restrictions placed on Iraq.

The UN Security Council issued its resolutions 1483 which was released in 2003, put money in the Iraq Development Fund for Iraq, which go to DFI's imports of Iraqi oil and oil for food program as well as funds belonging to the former regime.

http://www.aknews.com/ar/aknews/2/194729/

Iraqi parliament calls for exempting Iraq from Kuwait, the remaining debts

Economic Committee called for in the Iraqi Council of Representatives, Thursday, the Government and the Kuwaiti National Assembly, Iraq exemption from deductions of compensation from oil exports.

The MP said Mahma Khelil told a news conference building, the Conference Palace in Baghdad today, in the presence of the correspondent of news agency Kurdistan (Rn) that "there is 5% of Iraqi oil exports go to the Compensation Fund of Kuwait."

The UN Security Council passed a resolution in 1992 required the Government of Iraq to pay 5% of Iraqi oil exports annually to the Compensation Fund for the State of Kuwait's occupation by the forces of the former regime have.

He pointed out that "Iraq is paying $ 31 billion to the State of Kuwait so far," calling to cancel the remainder of these deductions and $ 22 billion.

He continued by saying that "the proportion of 5% is equivalent to 5 billion and U.S. $ 230 million to be paid for this year." He stressed that these deductions weigh the financial budget of Iraq in each year.

Khalil stressed that "the Commission considers that the deductions of the death of the Iraqi people because of wrong policies of the former regime, noting that" the Iraqi-Kuwaiti relations is currently experiencing a positive atmosphere "and called for the need to invest these conditions and the closure of all outstanding issues between them.

The Iraqi Prime Minister Nuri al-Maliki, visited Kuwait on Wednesday, on top of a high-level government delegation, for talks on outstanding issues between the two countries.

http://www.aknews.com/ar/aknews/2/218883/

Central: Iraq, follow the best plans to pay its debts

Confirmed adviser to the CBI, said that Iraq pursued a policy of high-level economic repayment of the debt as they have not faced legal problems.

He said the appearance of Mohammed Saleh (Rn) «The Iraq follow the economic policy is one of the best plans in the payment of debt and economic, as approved by the Paris Club, since the policy of religion applied economic well».

The Paris Club is an informal group of financiers from 19 countries of the world's richest countries notably the United States, Britain, Australia, Italy, Japan, the Netherlands, Germany and Ireland offer service debt cancellation to indebted countries and creditors. The IMF had identified the names of those countries after alternative solutions have failed to change with the methods of payment of outstanding debt. Saleh added that «Iraq ended thanks to the economic policy followed by the debt to reduce its debt to 80 percent in seven years, which could be described as an important achievement».

He continued by saying «that the ratio of debt remaining at the end if Iraq continued to follow the debt policy that will make Iraq one of the least indebted countries despite economic turmoil caused by the political changes in the country».

It is hoped that Iraq shall submit to the UN Security Council a detailed report in May next, looking the most important pillars of the protection of Iraqi funds. Revealed the Iraqi Finance Ministry on the seventh of January last, the work of the Committee to Protect Iraqi funds abroad would be a secret to avoid companies false claims that it requests the Iraq money.

The Ministry of Finance of Iraq, earlier this year that the Commission on technical government took over the development of mechanisms to protect Iraqi funds in foreign banks after the UN Security Council resolution mid last November, who spent lifting protect Iraqi funds the end of June next. The UN Security Council voted unanimously mid-January last three resolutions concerning the lifting of the embargo imposed on Iraq on the import of nuclear material for peaceful purposes, and the abolition of the Oil for Food program, also extended the immunity of the last stage and the compensation imposed under Chapter VII until the end of next June.

http://www.alsabaah.com/ArticleShow.aspx?ID=3674

URGENT - Iraq to pay all remaining compensations for Kuwait, Foreign Minister says

Iraq has decided to pay about US$21 billions (b) to Kuwait, being the remaining compensations by Iraq, Foreign Minister, Hoshiar Zibary, said on Monday.

“Iraq shall pay about US$21 billions (b), being the remaining compensations for Kuwait, and its diplomatic moves aim at implementing all its international commitments,” Zibary told the semi-official al-Sabah newspaper.

The Minister said that “the most important dossier, the Iraqi diplomacy is trying to complete, is to put an end to all its commitments towards international resolutions and to lift UN Charter’s 7th article, along with the ending the Iraqi-Kuwait dossier, including the payment of the remaining compensations.”

Minister Zibary expressed conviction that “the settlement of those problems, remains to be in Iraq’s commitment towards UN Security Resolution No.833, that shall open all doors for Iraq.”

The Iraqi Foreign Minister said that recent visits, exchanged between Iraqi and Kuwaiti officials over the recent period had solved a lot of complications that stood in the way of putting an end for the sanctions imposed on Iraq.

“What has remained of the said dossier are three issues only, first of which is the issue of the ground and naval borders, the second is the issue of the lost persons and prisoners-of-war (POWs) and the last, the payment of the remaining compensations, followed by the payment of US$19 billions (b) by Iraq over the past period, through the deduction of 5% of its annual revenues,” Zibary said.

The dossier of the Iraq-Kuwait relations had witnessed several suspended issues, most outstanding of which was the compensations paid by Iraq due to its invasion of Kuwait in 1990, Kuwait’s position towards Iraq’s exclusion from UN Charter’s article 7, along with the demarcation of joint borders between both countries and the remains of Kuwaitis lost in Iraq.

U.S. Vice-President, Joseph Biden, had stated in UN Security Council’s session on 15/12/2010, that the Council had decided to abolish the sanctions, imposed on Iraq after its invasion of Kuwait in 1990, whilst Iraq’s Foreign Minister, Hoshiar Zibary told the same session that “Iraq had a long “course” to settle its suspended issues with Kuwait.”

Zibary, meanwhile said, that Iraq “is keen to develop its relations with the Arab and world states, and to end its international isolation, along with lifting the sanctions, imposed on it due to the erroneous policies of the former regime, as well as raising the level of its diplomatic representation with other states.”

He stressed that “the raising of Iraq’s diplomatic representation with other states, along with the foreign representation in Iraq, had witnessed 89 Iraqi missions abroad, including 13 general consulates and 76 embassies, distributed in different continents, along with the presence of 96 foreign missions working in the country.

http://en.aswataliraq.info/Default1....&id=141451&l=1

central bank adviser: Most of the Paris Club debt waived with the exception of Gulf countries

An advisor of the Iraqi Central Bank in favor of the appearance on Saturday that Iraq is required to pay a sum of money amounting to $ 120 billion according to what was agreed upon in the Paris Club.

Saleh said in a statement to the reporter ( Media News Agency / INA ) that the Paris Club, the author of 51 semi-official institution, which is in Iraq have a debtor has waived the bulk of its members of their debts owed ​​by Iraq, except the Gulf countries that are still sticking to their debts.

He noted that the main reason for the debt of Iraq during the past dictatorial regime is madness and focus on the disbursement of funds on the Iraq military armament.

The Paris Economic Club is an informal group of financial officials from the world's richest countries, which provide financial services such as debt rescheduling and debt relief, and debt cancellation to indebted countries and creditors. The IMF had identified the names of those countries after alternative solutions have failed.

It meets every six weeks at the headquarters of the Ministry of Economy, Finance and Industry French, headed by a senior official of the French Treasury

http://al-iraqnews.info/new/economic-news/57544.html

Liquidation 80% of Czech debts praised

Premier Nouri Al-Maliki praised today the Czech initiative to liquidate 80% of its debts for Iraq, pointing out that Iraq is an excellent investment environment for foreign companies, including Czech companies.

In a joint press conference held in Baghdad with his Czech counterpart Peter Nitcas, Maliki said that the talks concentrated on the economic and commercial fields.

Maliki confirmed that Iraq was able to provide an investment environment for foreign companies, including the Czech companies.

"Iraq wants to open the commercial ties with the Czech republic as well as cooperation in educational fields".

Czech Premier began an official visit to Iraq accompanied by a high ranking delegation to hold discussions in all spheres.

http://www.zawya.com/story.cfm/sidZA..._debts_praised

Algeria writes off Iraqi debt

Algerian government announced on Saturday that all of Iraq's debts to Algeria have been written off in order to enhance Iraq's economy.

This announcement came in a letter sent by the Algerian Minister of Foreign Affairs Mourad Medelci to his Iraqi counterpart Hoshyar Zebari.

"Out of Algeria's desire to contribute in the development of Iraq's economy and as part of the strong ties between the two countries, the Algerian government decided to write off the Iraqi debt," the letter stated.

The letter did not reveal the volume of this debt.

Diplomatic ties between Iraq and Algeria went back to normal level in March 2010, after an Iraqi ambassador was assigned to Algeria.

http://www.zawya.com/story.cfm/sidKU...off_Iraqi_debt

Chinese President affirms his country went to cancel the debt owed by Iraq and support to get rid of international sanctions

Sout Al Basra new Prime Minister Nuri Kamal al-Maliki's call for Chinese companies to work in Iraq and participate in the process of building and construction, especially as Iraq has succeeded in creating the right climate for investment, and enable the development of legislative and legal basis for it.

This came during a meeting between Prime Minister Nuri Kamal al-Maliki, today, Tuesday, 19/7/2011, in Beijing, Chinese President Hu Kho.

The Prime Minister during the meeting: that Iraq is looking forward to more joint relations with China in political, economic, commercial, industrial, agricultural, scientific, health, etc., in the interest of the two countries.

The Prime Minister said: This visit confirms our desire to develop bilateral relations, and benefit from the Chinese experience, and access to China's support in Iraq would emerge from Chapter VII, in addition to activating the work of the Joint Economic Committee between the two countries.

The Prime Minister: Iraq is a rich country and has many riches, but he denied for decades, and today look to be China's partner strategically in the economic renaissance in the various sectors.

The prime minister: the new Iraq a country that believes in democracy and gives the right of the people to choose their representatives through elections, and the government came to choose the people, the working principle of equality, justice and non-discrimination between all the sons of the Iraqi people, and is working to establish cooperative relations with neighboring countries and all countries of the world based on respect mutual and common interests and non-interference in the affairs of others.

For his part, President of the Republic of China (PRC): This visit will have a significant role in strengthening bilateral relations, stressing that China-bound manner is vital to reduce or cancel the debt owed by Iraq, and supported in the Security Council to get rid of international sanctions.

The Khoo Hu desire to contribute to Chinese companies in the process of construction and reconstruction in Iraq, and take their opportunity to work in different sectors, especially economic and trade, reiterated his support for the Iraqi government in all efforts to preserve the country's stability and prosperity.

The Chinese president praised the efforts of the Iraqi government in promoting national reconciliation and improve the standard of living for the whole of the Iraqi people, in addition to its commitment to establish good relations with the countries of the region.

http://basvoice.com/ar/news.php?action=view&id=674

Iraqi Reparations Moving Rapidly

The UN has approved the release of another US$1bn from the reparations fund that compensates Kuwaiti businesses, government bodies and international organisations for losses due to Iraq’s invasion of Kuwait in 1990.

Iraq has now repaid more than $33bn of its $52bn due in damages claims. The $1bn comes from a 5% cut of Iraqi oil sale revenue that goes to a UN-controlled fund. From 1994 to 2003, the amount taken was 25%.

Five companies and four other bodies will receive the compensation. As usual, the UN has not named the claimants receiving compensation.

http://www.iraq-businessnews.com/201...oving-rapidly/

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