Thread: Ratified Laws and Foreign Debt Relief

Finance Ministry, Egyptian officials discuss debts

A joint committee comprised of representatives of the Iraqi ministries of finance and foreign affairs and their Egyptian counterparts has discussed Iraq’s debts owed to Egypt.

“Finance Minister Baqir al-Zubeidi has received the Egyptian ambassador to Iraq, Sharif Shahine,” according to a statement released by the Iraqi Ministry of Finance and received by Aswat al-Iraq news agency.

The two officials have agreed to set up a committee to discuss Iraq’s debts to Egypt, in addition to issues related to the salaries of Egyptian workers in Iraq, according to the statement.

Zubeidi has urged Egyptian companies to contribute to the reconstruction process in Iraq.

http://en.aswataliraq.info/?p=125021

Formation of a committee between Iraq and Egypt to discuss my debt Egyptian remittances of Egyptian workers

and Iraq have agreed Republic of Egypt to form a joint committee between the ministries of finance and foreign affairs of Iraq and Egypt to discuss Nzirithma My Egyptian debts on Iraq and the issue of yellow cards vouchers Egyptian workers.

The statement quoted a Finance Ministry official source as saying in a statement received by the Independent Press Agency (Iba) on Monday, the minister Baqir al-Zubaidi agreed with Sharif Shaheen, Arab Republic of Egypt's ambassador in Baghdad to form a committee in this regard to achieve the results of unresolved files stranded.

He added that these moves will contribute to the move towards open economic relations between the two countries, thus contributing to the achievement of mutual benefit to them. Indicating that during the meeting, they reviewed bilateral relations and economic ties between the two brotherly countries and ways of strengthening in order to serve common interests.

The minister called on Egyptian companies to participate in the reconstruction of Iraq and the participation of Egyptian labor in support of the Iraqi private sector because of their successful experience of working in Iraq during the eighties of the last century. He pointed to the possibility of the contribution of Egyptian companies in the construction sector, housing and the implementation of the road network and build factories in order to achieve the reconstruction of Iraq.

http://www.ipairaq.com/index.php?nam...onomy&id=19783

Talabani calls from Kuwait into account feelings of Iraqis & extinguish the debt

President Jalal Talabani called on Kuwaitis to respect the feelings of the Iraqis, and Estpsohm, confirming that all or most of the world had turned off the debts on Iraq, is it not the right Brothers Iraq - Kuwait Kuwait should be the initiator of such a step and they know that the Iraqi people to have sinned in the aggression on Kuwait, "Talabani said in an interview with the Khaleej Times newspaper frankly, we have Kurds and majority Shiites believe firmly the independence and sovereignty of Kuwait, so I hope the Brotherhood officials in Kuwait to strengthen this conviction, the majority of the Iraqi people.

And said, "I consider myself a friend of Kuwait has requested the officers and soldiers of the Kurds who were part of the Iraqi army during Saddam's invasion of Kuwait and to help people and you can ask your brothers from the positions of Kuwaiti officers and soldiers, then the Kurds.

Talabani also said that I am asking of our dear Kuwaitis to observe the feelings of Iraqis, neither Estpsohm, that all or most of the world had turned off the debts on Iraq, is it not the right Brothers Iraq - Kuwait Kuwait should be the initiator of such a step and they know that the Iraqi people to have sinned in the aggression against Kuwait and so I reject the label «Iraqi invasion», because in fact «invasion did not want to collide when most Iraqis».

I also wonder: Is not it the right of Iraqis to Iatbwa on their fellow non-Kuwaitis for their investment of compensation in the Iraqi arena - at least - and we pay the wealth of Iraqis who have nothing to do with Saddam's crimes that the Iraqi people pay for it before anyone else Albahi sacrifices?

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Denmark shall hide the debt of Iraq by 100 percent

Finance Ministry announced that Iraq will sign an agreement with the Danish side, which is put out of debt on Iraq by 100 percent.

A statement from the Ministry of Finance said: "The signing of the Convention will take place on Sunday in Baghdad."

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Kuwait needs security, not money from Iraq: FM

KUWAIT CITY — Kuwait is not asking its former occupier Iraq to repay a multi-billion-dollar debt but only for assurances on security and good neighbourly ties, the Kuwaiti foreign minister has said.

"What we need from Iraq is security and assurances. We don't want money which is the last thing on our mind," Sheikh Mohammad al-Sabah told Al-Qabas newspaper in an interview due to appear on Sunday.

"Let me be very clear. We have not asked Iraq to repay the debt," said Sheikh Mohammad, according to an advance copy of the interview received by AFP.

Kuwait loaned Iraq an estimated 16 billion dollars during the 1980-1988 Iraq-Iran war.

Iraq's new leaders have repeatedly urged oil-rich Arab countries to cancel Baghdad's debt, mostly comprised of Gulf support during the war with Iran.

Sheikh Mohammad called on Iraq to help create the atmosphere conducive that could allow the Kuwaiti parliament to write off the debt.

"We want Iraq to be a good and safe neighbour," said the Kuwaiti minister who complained that some Iraqi MPs still praise former leader Saddam Hussein for invading the oil-rich emirate.

The emirate is also owed around 25 billion dollars in war reparations by Baghdad, but Sheikh Mohammad said compensation "has its own international mechanism."

Last September the Kuwaiti foreign minister said his country is considering a proposal by UN secretary general Ban Ki-moon for it to invest the billions of dollars of unpaid compensation inside Iraq in joint ventures.

Iraq has already paid 27.62 billion dollars in reparations to individuals, organisations, companies and governments, around half of which was paid to Kuwait.

Kuwait is also demanding maintenance of land border marks, return of property stolen during the invasion, repatriation of remains of prisoners of war and demarcation of maritime borders.

Iraqi forces invaded and occupied Kuwait in August 1990 before they were driven out by a US-led international coalition seven months later.

"The issue is not financial ... there are deep concerns among a large section of Kuwaitis about policies of the new Iraq," Sheikh Mohammad said.

He said Kuwait was concerned over lawlessness in southern Iraq, a possible sectarian conflict that could spill over to Kuwait and Al-Qaeda militants moving into Kuwait from Iraq.

http://www.google.com/hostednews/afp...G3Q6M8t9IF7bng

Kuwait concerned about the direction the new Iraq and the atmosphere is not suitable for debt forgiveness

Minister of Foreign Affairs of Kuwait, Sheikh Mohammed Al-Salem Al-Sabah said his country feared that represents the increase in militant attacks and sectarian tensions in Iraq a new security threat to them.

Sabah expressed in comments published by Kuwait Times expressed concern about a "breakdown of security in Iraq could result in three serious consequences are the transfer of Sectarian and tribal conflict in Kuwait and export-Qaeda terrorism and finally human displacement across the border."

The Kuwait said last year they had foiled an al Qaeda-linked plot to blow up the U.S. military camp and refinery oil.

Responded the morning in a lengthy interview with the «Qabas» the invitation of Iraqi President Jalal Talabani to ease the financial burden on Iraq, saying «we say to the Muslim Brotherhood in Iraq does not want money did not ask you, All we want is security and peace of mind ..

Because the Kuwaitis are worried about Iraq's new direction », pointing out that the positions that come from Iraqi officials to Kuwait do not provide an appropriate atmosphere to bring down the debt.

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Al-Zubaidi sign the Convention on the debt write-off the Danish Iraq

The Ministry of Finance of Iraq bilateral agreement with Denmark to write off debt owed by Iraq by one hundred percent, and affirmed that States which will reduce the debts on Iraq would be a priority in the implementation of investment projects in it.

He said Finance Minister Bayan Jabr said in a statement released by the ministry received the (morning) a copy of which Iraq is able to reduce the $ 120 billion of the debt owed his trust, amounting to 140 billion dollars, adding that this reduction comes as a continuation of the process of debt cancellation promised by the creditor nations of Iraq. The Al-Zubaidi said the signing of the agreement with Denmark will reduce the remaining debt amounting to twenty percent after he signed with them earlier in the convention for the reduction of eighty percent of the debt of $ 55 million, noting that Iraq has begun negotiating States extinguished Eighty percent of the debt to extinguish the remaining amount.

The minister pointed out that Iraq will give priority to investment companies of the States which shall hide the debts on Iraq, one hundred per cent for work in Iraq, noting in this regard that Iraq had managed to write off some debt at this rate for some foreign countries like the United States and Cyprus and Malta and the United Arab Emirates, with reduced its debt by eighty percent of a number of countries, including Russia, Germany and France. "He pointed out that al-Zubaidi debts owed by Iraq to Saudi Arabia and Kuwait, which refused to reveal their size has not been resolved, stressing that Iraq is seeking to sign a number of agreements to reduce debts, with some Arab countries like Egypt and Morocco . For his part, said Danish Ambassador Michael Linder, "Denmark is continuing to support Iraq in all fields of economic, agricultural and industrial as well as support for the human rights situation and provide support to Iraqi universities, pointing out that Danish companies looking for work in Iraq as soon as possible.

http://www.alsabaah.com/paper.php?so...page&sid=96677

Minister of Finance: Egypt shall hide the debts on Iraq soon

Finance Minister Bayan Jabor said Egypt Sttefye debt on Iraq soon, and by (100%).

"Now in a press statement transferred reporter that the negotiations and discussions started with the Egyptian Ambassador to extinguish the debt of Iraq Ceuta (100%), and he had offered him, which in turn transferred to the Egyptian government, noting that the situation was positive.

Zubaidi stressed that he would continue negotiations with the Arab states to extinguish all debts on Iraq, as well as that of the Ministry of Finance talks with Tunisia, Morocco, on the same subject.

http://translate.googleusercontent.c...XiWqyFamAW4Svw

Kuwait may write off billions in loans to Iraq

Kuwait will forgive billions of dollars of Iraqi debt in exchange for guaranteed security and good relations with its northern neighbour, the minister of foreign affairs, Sheikh Mohammed Sabah Salem al Sabah, said this week.

“We do not want money, and we did not ask you for that. All that we need is security and peace,” Sheikh Mohammed said in an interview with the local newspaper Al Qabas on Sunday.

Iraq owes Kuwait US$16 billion (Dh58.8bn) from loans that were mostly made during the 1980s when Saddam Hussein’s regime was fighting a war with Iran. The Iraqi government owes an additional $25bn in war reparations to Kuwait as a result of the 1990 invasion.

Sheikh Mohammed said he was referring only to the money owed to Kuwait through loans, and not compensation, which he said has its own “international mechanism”.

The UN Compensation Commission oversees payments to individuals, companies, non-governmental organisations and governments that suffered in the invasion. Five per cent of the country’s oil sales are used as compensation, and Iraq must resolve the reparations issue before it can be relieved of the UN’s remaining sanctions.

During the interview, the minister also expressed concern that tribal and sectarian divisions in Iraq and problems with al Qa’eda terrorists could spill over the border to threaten stability in Kuwait.

Yousef Ali, the director of Kuwait University’s Centre for Strategic and Future Studies, said because Kuwait is a small state abundant with oil fields, it has often been coveted by the larger and more powerful countries in the region, Saudi Arabia, Iran and Iraq. He said it had paid off its neighbours to avoid confrontation in the past, and Iraq benefited from this policy in the 1960s.

Mr Ali said he believed the threat from Iraq had increased in recent years because of instability there. The Kuwaiti government would be willing to forgive both the debts and reparations if it could overcome opposition from some members of parliament, he said.

“It depends if the government can convince the religious extremists – like the Salafis – to accept it. Some of their MPs will resist the idea,” Mr Ali said. He said the change of Iraqi leadership from Saddam Hussein’s Sunni-dominated regime to a democracy where Shiites are the largest bloc had put many radical Kuwaiti Sunnis off the idea of giving the country a break.

“This is their attitude. In any country if there are some Shiites in government, those fundamentalists try to put pressure on them. Take Lebanon, take Bahrain and now take Yemen,” he said.

Mr Ali said Kuwait, Iraq and the UN all agreed to the demarcation of the border between the two countries after the Iraq war, but some Iraqi nationalists still do not accept the deal. Some Iraqi MPs have questioned the validity of the border, and others have demanded that Kuwait pay Iraq compensation for giving the US-led coalition a base from which to stage the 2003 invasion, which they said was illegal under international law.

Sheikh Mohammed gave a warning to belligerent Iraqi MPs during the interview when he said: “The positions of some Iraqi officials towards Kuwait do not encourage writing off debts.”

Relationships between the two countries are not always acrimonious. A visit from the governor of Basra to Kuwait on Sunday highlighted the hopes many businessmen in the two countries have for increased economic cooperation.

“Iraq is keen on extending bridges of amity and friendship with the state of Kuwait,” the Iraqi governor, Shaltagh al Mayah, told journalists at a press conference with the governor of Ahmadi, Sheikh Ibrahim al Duaij al Sabah.

The Iraqi governor said his visit was to promote brotherly ties and joint interests between the northern Gulf neighbours and urged Kuwaiti companies to invest in Basra because it was witnessing a period of increased security and stability.

The Kuwaiti MP who heads the Kuwait Economic Society, Rola Dashti, has hinted that investing Iraqi payments back into the country would be a suitable compromise to the reparations issue that would benefit both countries. Sheikh Mohammed said the UK, Turkey and Kuwait were now working together to establish a free trade zone in Basra.

Another member of the Iraqi delegation from Basra, Nezar al Jebari, announced yesterday that authorities have selected a plot of land in the Basra governorate to build a hospital that will be funded by the Kuwaiti government.

http://www.thenational.ae/apps/pbcs....9918/1011/NEWS

Minister of Finance receives approval from the Chinese ambassador to extinguish the country 80% of the debts on Iraq

Received Minister of Finance Bayan Jabor, the Chinese ambassador in Baghdad, who was transferred Chinese State Council approved the bilateral agreement signed between Iraq and China initialed in Beijing, containing the engines from China to Iraq's debt of $ 8,5 billion dollars.

The Information Office In the ministry for "The price-Zubaidi This initiative, which contribute to strengthening economic cooperation between the two countries and called on "the Chinese government to send high-level delegation to Iraq to sign the agreement In Baghdad."

The pregnancy and Minister of Finance Vice-President of the Economic Commission, Chinese Ambassador to the Chinese leadership message includes an agreement to facilitate the grant of visa to enter China for the traders and businessmen and wage earners of the Iraqis through opening of consulates in Baghdad, Basra and Arbil, rather than "go merchants and Earners Iraqis to neighboring countries, which compels them financial burdens many The Chinese ambassador promised to convey that message to the Chinese leadership. "Only a proportion of trade between Iraq and China during the first nine months of 2009 amounted to more than 3,800 billion dollars, an increase of 78% for the year 2008 and this great indicator of the increasing economic and trade exchanges between the two countries.

http://al-iraqnews.net/new/local/52832.html