Kuna site|Story page|US voices support for Int''l Compact with Iraq ...10/31/2006
US voices support for Int''l Compact with Iraq
ECO-9LD KUWAIT-IRAQ-ICI
US voices support for Int'l Compact with Iraq
KUWAIT, Oct 31 (KUNA) -- The US voiced on Tuesday overall support for the International Compact with Iraq (ICI) in its current state and form.
During a press conference at the conclusion of ICI's fifth and final preparatory meeting which was held in Kuwait, US Deputy Treasury Secretary Robert Kimmit said "I signaled in today's meeting the US government's strong support both for most of the concept of the international compact, also our strong support for the draft as emerged." He added "based on today's successful meeting, I think we are in a position to move to a ministerial level meeting" to enable concluding the compact.
He believed that the amount of international pledges to ICI would be announced during the anticipated ministerial meeting.
He noted that the US has extended Iraq with debt relief, technical assistance, as well as donor assistance for economic development and boosting security bodies.
He said despite political and security difficulties, Iraq's economic progress has made significant progress through a stable currency, sizeable foreign currency reserves and almost back to pre-war levels of oil production, which enabled Iraq to fund a considerable amount of government operations.
However, there was still a gap between their requirements and available resources, which stresses the necessity of ICI, he said.
A number of nations, including the US, have made the decision to write off 100 percent of Iraq's debts, while others wrote off 80 percent, and other nations are closely considering similar write offs that would be decided through bilateral talks, he said.
Kimmit represented the US during this one-day meeting.
Earlier, Special Representative of the UN Secretary-General for Iraq Ambassador Ashraf Qazi said ICI's final adoption would either take place during the end of November or the beginning of December and the final location of the meeting was under consideration. (pickup previous) kt