Thread: Ratified Laws and Foreign Debt Relief

Iraq review the fiscal action plan to pay its external debt in accordance with international resolutions

A statement by the United Nations, Iraq is reviewed at a meeting of the Security Council fiscal action plan to repay its external debt in accordance with international resolutions.

The statement, posted on the United Nations, Tuesday, that "the UN Security Council discussed in the meeting of his financial situation in Iraq, which it heard, the Chairman of the Committee of Financial Experts in Iraq, Abdel Basit Turki Saeed, who presented the work plan and timetable for the transition to successor arrangements for each of the Development Fund for Iraq and the International Advisory and Monitoring Board by December 31, 2010."

The statement continued that "the basic parameters of this plan of action which depends from the first of January 2011 focused on maintaining the same existing mechanism as much as allowed by international resolutions, noting the safeguards of Iraqi funds using the bank accounts of the Federal Reserve Bank in New York Deposit Central to all receipts from sales of oil and gas, an alternative to the opera with the continuing process of filing the automatic compensation under the provisions of paragraph twenty-first session of Security Council resolution 1483 and subsequent relevant resolutions and the Ministry of Finance to the exclusive power to run the bank account."

Also reviewed the report of the Government of Iraq according to the statement "Action Plan for the settlement of the debt inherited from the former regime in 2010, as the most important agreement to settle the debts were for a Paris Club countries where the settlement of over fifty-one billion dollars," adding, "The creditor countries outside the Club Paris was the number of fifty-five States had been reached with the settlements on terms similar to those agreed with Paris Club countries with the exception of thirteen countries, including the GCC countries and efforts are underway to reach compromises with the same."

http://ar.aswataliraq.info/?p=214950

Issam Al-Chalabi: the position of Kuwait concerning compensation based on the commitment by the major powers

Said former oil minister Issam Al-Chalabi, "The Kuwaiti position on compensation imposed on Iraq to Kuwait based on the commitment by the major powers."

He said Chalabi in connection with the Agency for the independent press (Iba), "The UN has not put a time limit for the end of this compensation approved by the ICRC on this matter," noting "that the Kuwaitis are still insisting on deducting a percentage of this compensation, which amount to 5% of the revenues from Iraq's oil ".

The United Nations imposed on the former regime to pay compensation to the Kuwaiti side due to damage caused by them during the invasion of Kuwait in 1990.

The Chalabi, "The Kuwaiti side of the Eitnazl this position, even for many more years," stressing that "the insistence on the attitudes are somewhat smaller than this aspect of the latest and final approval of the new Iraqi ambassador after 7 years of the fall of the former regime."

Was the appointment of Mohammed Hussein Bahr al-Ulum as the first Ambassador of the Republic of Iraq in Kuwait after 2003.

On the Iraqi government's position of these things Chalabi also said "The position of the Iraqi government through her letters to be Att letters satisfaction with the Kuwaiti side."

The forces and political figures have called for the State of Kuwait to open new page with the existing political system in Iraq.

http://www.ipairaq.com/index.php?nam...onomy&id=24766

Iraq calls for relief in its Gulf War reparation payments to Kuwait
Yesterday Iraqi Oil Minister Hussein al-Shahristani warned that Iraq can no longer sustain its current level of reparations payments to Kuwait. These payments were imposed because of Saddam Hussein’s destructive 1990 invasion of the small oil-rich emirate in the northwest corner of the Persian Gulf.

"Iraq has paid Kuwait enormous amounts of compensation for its losses and we do not know of any country in the world that has paid such high sums," Shahristani told Agence France Presse (AFP) reporters in Baghdad yesterday.

Last month, Adnan Abdulsamad, head of the Kuwaiti parliament’s Budgets Committee reported that Iraq has already paid Kuwait $17.5 billion out of a $41.8 billion reparation fund approved by the UN. Iraq is required to put five percent of its oil revenues into this fund.

"Iraq cannot continue to make these payments and has made this known to the U.N. Security Council," Shahristani continued. "We call on our Kuwaiti brothers to work together with us to forget the past, which has cost our country more than our neighbors."

Before the 1991 Gulf War, Kuwait, along with other Gulf nations, had supported Iraq financially during its 1980-1988 war with Iran. According to the AFP story, Iraq still owes Kuwait around $16 billion. That conflict left the world's fourth largest oil producer virtually bankrupt.

"The sum of money that Germany paid to France and Britain is less than what Iraq has paid to Kuwait, even though that was a world war and the losses were considerable," added Shahristani.

Between crippling UN sanctions after the Gulf War and the damage related to the US-led invasion of 2003, Iraq slipped further into debt and has repeatedly appealed to Kuwait and other countries to waive tens of billions of dollars in compensation and debt payments.

Are Iraq’s requests for debt forgiveness reasonable? According to the CIA, the average gross domestic product per capita (GDP) among its population of 28.9 million is estimated at $3,600 (2009 figures), and the nation is still struggling to cope with an insurgency as well as other political and economic challenges.

Last July, UN leader Ban Ki-moon urged Iraq to use investments and other alternatives to resolve its reparations dispute with Kuwait, and pressed UN Security Council members to help Baghdad meet its outstanding financial obligations.

Meanwhile, Kuwait has fully recovered from the Gulf War, which had heavily damaged its infrastructure and oil production, GDP is around $50,100 for a population of 2.7 million. The emirate might well afford to be generous--or flexible--when it comes to rescheduling Iraq's enormous debt. However, significant psychological scars from the brutal Iraqi occupation remain.

In a positive move for Iraq, Kuwaiti Foreign Minister Sheikh Mohammad al-Sabah did say last September that his country is considering a proposal by the UN General-Secretary to recover the unpaid compensation by investing in joint ventures in Iraq.

http://www.examiner.com/x-38007-Midd...ents-to-Kuwait

Dabbagh .. the government were ready to pay debts to Kuwait, Bremer days

Neighborhood: disclosure, government spokesman Ali Dabbagh that the government were ready to pay the debts Kuwaiti days of the civil administrator, Ambassador Paul Bremer and the settlement of such debt.

He added, «There was another project for the settlement of debt, according to an agreement whereby it would pay 300 million dollars of Iraq in settlement of debt, but reversed by the brothers in Kuwait», as stated al-Dabbagh.

Dabbagh also stressed that the decision to disband the Iraqi Airways was «appropriate action to protect the interests of the country», accusing Kuwait of blackmailing Iraq by raising the value of compensation to 1.2 billion dollars.

Dabbagh said in a statement to the newspaper «home» Kuwaiti, that «the resolution adopted by the Council of Ministers on resolving the Iraqi Airways was appropriate as it is keen to protect the interests of the country», adding that «the Kuwaiti side demanding debts amounting to 1200 million (as compensation for theft of Kuwaiti civil aircraft during the invasion of Saddam Hussein), while the real debt was estimated at 400 million dollars, and here comes the government's keenness on the interests of Iraq».

He «The Council of Ministers took the decision (to dissolve the Iraqi Airways), commensurate with the paragraphs of Iraqi law, meaning it did not exceed the laws of Iraq». He added that «paragraph 2 of the Companies Act gives the government the authority to dissolve the company, especially when it lost 50 percent of its capital and it has to be solved».

With respect to statements made by some Kuwaiti officials, said al-Dabbagh «on others to avoid permission issues at the core of the work of the Iraqi government».
Iraqi actions and the impact of steps to drive Iraq from Chapter VII, the spokesman said the Iraqi official: the «Iraq is committed to international resolutions and move on the right track to emerge from Chapter VII penalty».

http://aljewar.org/news-24880.aspx

Al-Zubaidi confirms the importance of resolving the debt file on Iraq Bologna

Finance Minister Baqir al-Zubaidi on the importance of resolving the debt file on Iraq, where Poland that Poland is the only country in Europe did not extinguish the debt until now.

The debt of Bologna on Iraq (850) million dollars.

A statement from the Ministry of Finance and Minister of Finance Baqer Al-Zubaidi met with Iraq's new ambassador Saad Qandeel, Bologna, wishing him success in his mission to show the bright image for the new Iraq.

He pointed to the importance of al-Zubaidi urged Polish companies to contribute to the reconstruction of Iraq and the strategic implementation of projects, especially in the areas of new housing construction, hospitals, energy and water projects.

He stressed the importance of talking with the Polish government plans to invest Iraq's debt in the reconstruction process by Acharcatalpulonip, will contribute to the open horizons of economic and commercial relations between the two countries and be a goodwill gesture for economic cooperation between them and contribute to the mutual benefit of both countries.

http://www.ipairaq.com/index.php?nam...onomy&id=26013

Finance Minister calls on Arab states to extinguish the debt on Iraq

Finance Minister Baqir al-Zubaidi Forum in the Arab-Turkish city of Istanbul in Turkey on the need for cooperation with Iraq on the subject of off debts to the Arab and foreign countries on the basis of the Paris Club and to invite the Arab states in particular to adopt formulas and methods of cooperation with Iraq.

Zubaidi stressed in a press statement MEMRI media source in the ministry That Received an invitation to attend the Fifth Economic Forum to promote relations with Turkey based on "cooperation with all countries neighboring Iraq, pointing out" that their relationship has evolved a lot "with Turkey, especially" during the last three years.

The Al-Zubaidi, we aspire to increase the volume of trade exchange to reach in the coming years (20) billion dollars, and we have many projects with its neighbor Turkey, particularly in the construction of hotels and hospitals, where is currently working "several Turkish companies and there are (10) hospitals close companies completed.

He pointed out on the sidelines of the Arab Forum Turkish, and their presence in this forum an opportunity to settle the debts owed by Iraq with the countries that wish to exceed the previous stage and you drop all of Iraqi debt to as the European countries that were dropped (80%) of Iraqi debt, as did Arab Emirates drop all their debts on Iraq, as well as China, which has dropped (5.8) billion dollars, as well as the United States and Denmark on the basis of "a meeting place for Paris Club, noting that" we aspire to do the Arab countries, Egypt and Saudi Arabia, Kuwait, the example of the extinguished debt on Iraq.

http://al-iraqnews.net/new/local-news/12768.html

Kuwait has received 17.5 billion dollars from Iraq

Revealed the Public Authority for Assessment of Compensation in Kuwait in a report on Sunday that the State of Kuwait has received 17.5 billion dollars in compensation for the loss of the invasion of Iraq until the end of December last year.

The report said the total value of compensation of 41 billion dollars, including the State of Kuwait has received 17.5 billion dollars for its remaining 23.5 billion dollars for 234 thousand and 247 claims.

According to the report, the environmental claims at the end of last year, amounting to 3 billion and 786 million and 231 thousand and 496 dollars, with the amounts received, including two billion and 438 million and 548 thousand and 30 dollars, amounts reserved amount to 510 000 101 thousand dollars amounts to the amounts of the remaining 837 million and 581 thousand and 670 dollars.

Committee approved the claims in the United Nations an amount of 2.95 billion dollars for claims of government for the rehabilitation of Kuwait's environment by the Commission's decision 258 at the end of 2009, Kuwait received, including two billion and 212 million and 418 thousand and 722 dollars, and detained, including the amount of 510 000 101 thousand dollars and keep them 234 million and 206 thousand dollars .

http://www.iraqdirectory.com/Display....aspx?id=12876

Mstharfi the Iraqi government: Kuwait show a serious desire to resolve all outstanding problems with Iraq

The economic adviser in the Iraqi government ended its mandate on Sunday that Kuwait expressed its willingness yesterday seriousness in resolving the outstanding problems between the two countries.

The chancellor said he preferred not to be named, told the Kurdish news agency (Akaniwz) that "Kuwait has shown serious interest in solving all problems Agayp between them and Iraq, particularly a controversial compensation."

"We can not remain relations between Iraq and Kuwait strained to this limit without any initiative to resolve the outstanding problems between the two countries"

He explained that "the appointment of an ambassador to Iraq in Kuwait after 30 years of interruption would certainly contribute to bringing closer the views and reduce the critical problems"

The Public Authority for Assessment of Compensation in Kuwait revealed in a report on Sunday that Kuwait has received 17.5 billion dollars in compensation for the loss of Iraq's invasion until the end of last December, the report stressed that the relations between the two countries will be strained by an ongoing issue of reparations.

The source indicated that "the future Iraqi government is located on the responsibility of the task is to end a compensation of Iraq's invasion of Kuwait in August of 1990."

He added that "Iraq now looks to the greater efforts of Kuwait in the process of reconstruction and implementation of long-term strategy."

The Claims Commission in the United Nations has approved an amount of 2.95 billion for the year 2010 for the rehabilitation of the environment of Kuwait, and Kuwait received, including two billion and 212 million and 418 thousand and 722 dollars.

The political relations between Iraq and Kuwait has deteriorated dramatically in the last period due to the urgent claims of Kuwait on file compensation of Iraq's invasion of Kuwait in August of 1990.

Iraq and Kuwait seeks 41 billion dollars in compensation for the war which received 17.5 billion dollars, leaving them 23.5 billion dollars for 234 thousand and 247 claims.

But the Iraqi government ended their mandates described as astronomical sums and payment is not possible at present.

http://www.aknews.com/ar/aknews/2/154724/

Gov’t settles down Madagascar’s debt to Iraq

Iraqi Council on Ministers has decided to approve an agreement that settles down Madagascar’s debt to Iraq.

“Eighty percent of the debt (i.e. $234,507,234) has been cancelled,” the Iraqi government said in a release on Wednesday as received by Aswat al-Iraq news agency.

He noted that the 20 percent left will be paid on dispatches.

“The $46,901,446 will be paid over a period of seven years, with a payment dispatch every six months,” the statement explained.

It noted that the first payment should be made on Nov. 15, 2011.

http://en.aswataliraq.info/?p=133290

Originally Posted by Seaview

Gov’t settles down Madagascar’s debt to Iraq

Iraqi Council on Ministers has decided to approve an agreement that settles down Madagascar’s debt to Iraq.

“Eighty percent of the debt (i.e. $234,507,234) has been cancelled,” the Iraqi government said in a release on Wednesday as received by Aswat al-Iraq news agency.

He noted that the 20 percent left will be paid on dispatches.

“The $46,901,446 will be paid over a period of seven years, with a payment dispatch every six months,” the statement explained.

It noted that the first payment should be made on Nov. 15, 2011.

http://en.aswataliraq.info/?p=133290

Skinner: Matching and the settlement of debts of the Republic of
Madagascar for the Government of the Republic of Iraq

Announced the government spokesman Ali al-Dabbagh said the Cabinet decided to ratify the minutes of the joint agreement between the representatives of the Government of the Republic of Iraq and the representatives of the Government of the Republic of Madagascar at the headquarters of the Iraqi embassy in the capital of Jordan (Amman) for the period (5-6 May 2010) on the conformity and the settlement of debts of Madagascar for Iraq and payment in accordance with the Paris Club terms.

Dabbagh said that the cabinet approval the minutes of the joint agreement comes within a quest Iraqi government in implementing the regulations and international obligations, including obligations of the Paris Club International on the debt where the move is a practical application of international conventions and the Paris Club and translate them into practical reality perpetuates the link between Iraq and the international community and the emphasis Iraq's obligation to the material and moral support to other developing countries and which would result in payment of debt for Iraq so that Iraq can regain its wholesome image, between States.

Dabbagh said that the origin of the topic view session meetings of the Council of Ministers and the Council adopted a resolution to approve the authorization of foreign and finance ministries the authority to negotiate with developing countries, the city on the repayment of the loan in full or installments, or delete part of it and then submitted to the Council of Ministers for approval The Foreign Ministry said that A meeting was held between the delegations of the Republic of Iraq and the Republic of Madagascar in Oman to match the loans and the settlement of the Iraqi grantees to Madagascar has resulted from the meeting for agreement between the parties on a formula to pay those debts in accordance with the terms of (the Paris Club).

Dabbagh said that he had Contained in the record write-off (80%) of the total debt of (234 507 234) U.S. dollars, and pay the remainder, representing the proportion (20%) of the amount of (46,901,446) U.S. dollars semi-annual installments for a period of (7) years as it begins the first installment in the 15 / 11 / 2010 The record is in one of the paragraphs of the agreement to be subject to ratification by the supreme authorities of the Republic of Iraq, during a period not exceeding (60) days to become effective.

Finished

http://nahrain.com/d/news/10/06/100616aa.htm