Ban Ki-moon: on Iraq continue to pay 5% of oil revenues to the Compensation Fund
Conscious
2/4/2010
UN Secretary-General Ban Ki-moon said that Iraq should continue to pay five percent of oil revenues to the Compensation Fund even if the new arrangements for the Development Fund for Iraq and if Iraq has declared its commitment to settle all debts, which were inherited from the era of Saddam's regime Hussein's regime.
Ban said in a quarterly report first to the Security Council about the new arrangements for the Development Fund for Iraq "if the government does not approve the Iraqi Governing Council of the Compensation Commission of the United Nations jointly to change the ratio or the completion of such adjustments, it will have to continue the Iraqi government to pay five percent revenues (oil) to the Compensation Fund.
It was also necessary to ensure "the continuation of the mechanism of existing or approved the same efficiency as an alternative mechanism" to guarantee the repayment of money owed to the Compensation Fund established by the Council to compensate victims of the Iraqi invasion of Kuwait in 1990.
In the mechanism to be adopted in the period after the Development Fund and as a mechanism alternative to guarantee such access to those funds proposed to UN Secretary-General the approval of banking services which Siwssha Iraq on any accounts, including oil revenues, "which may include an article defining the percentage that will be taken of the total deposits of the Compensation Fund" .
He pointed out that given the difficulty of ensuring the registration of all proceeds will be a mechanism to audit or the Security Council "may be required to pay the Iraqi government an annual amount specified in the Compensation Fund, regardless of the amount of oil revenues."
The report that the Council is the first in line with the request in Resolution No. 1905 adopted last December to provide quarterly reports written about the progress being made in support of financial and management control of the Development Fund for Iraq as well as legal issues and options that will be taken into account for implementation of new arrangements and the process of assess the progress made by Iraq in the preparation of such arrangements.
And The Development Fund for Iraq, which was founded in 2003, Iraq's oil revenues and the money transferred from the Oil for Food program of the United Nations and its accounts are audited by independent accountants who would report to the International Council for advice and oversight to ensure transparency.
The Board has extended the work of the Development Fund for Iraq and the International Advisory and Monitoring as well as providing immunity to oil revenues deposited in the fund last December for a year ends on December 31, 2010.
It was suggested that the UN Secretary General in his report to end the privileges and immunities enjoyed by the Development Fund for Iraq as soon as it becomes wholly owned by Iraq and as soon as the Iraqi government is ready to assume the responsibility to respond to any complaints or responsibilities under its new arrangements after December 2010.
In the meantime, he sent his Iraqi Foreign Minister Hoshyar Zebari sent a letter to the Security Council announced this week, work plan and timetable for the changeover to the new arrangements for the Development Fund for Iraq and the International Advisory and Monitoring Board, which will begin in January 2011 in a manner enabling them to comply with paragraph 21 of resolution 1483, which says that Iraq must pay five percent of oil revenues to fund reparation be.
The Zebari also reiterated Iraq's commitment to settle all debts, which he inherited from the former Iraqi regime and the continuation of the study until a final settlement.
Ban welcomed the report of Iraq to the Council and recommended the government to recognize their obligations under resolution 1483.
Is due to a bank official of the Iraqi National Council in an open meeting of these arrangements on Tuesday
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Conscious
2/4/2010
UN Secretary-General Ban Ki-moon said that Iraq should continue to pay five percent of oil revenues to the Compensation Fund even if the new arrangements for the Development Fund for Iraq and if Iraq has declared its commitment to settle all debts, which were inherited from the era of Saddam's regime Hussein's regime.
Ban said in a quarterly report first to the Security Council about the new arrangements for the Development Fund for Iraq "if the government does not approve the Iraqi Governing Council of the Compensation Commission of the United Nations jointly to change the ratio or the completion of such adjustments, it will have to continue the Iraqi government to pay five percent revenues (oil) to the Compensation Fund.
It was also necessary to ensure "the continuation of the mechanism of existing or approved the same efficiency as an alternative mechanism" to guarantee the repayment of money owed to the Compensation Fund established by the Council to compensate victims of the Iraqi invasion of Kuwait in 1990.
In the mechanism to be adopted in the period after the Development Fund and as a mechanism alternative to guarantee such access to those funds proposed to UN Secretary-General the approval of banking services which Siwssha Iraq on any accounts, including oil revenues, "which may include an article defining the percentage that will be taken of the total deposits of the Compensation Fund" .
He pointed out that given the difficulty of ensuring the registration of all proceeds will be a mechanism to audit or the Security Council "may be required to pay the Iraqi government an annual amount specified in the Compensation Fund, regardless of the amount of oil revenues."
The report that the Council is the first in line with the request in Resolution No. 1905 adopted last December to provide quarterly reports written about the progress being made in support of financial and management control of the Development Fund for Iraq as well as legal issues and options that will be taken into account for implementation of new arrangements and the process of assess the progress made by Iraq in the preparation of such arrangements.
And The Development Fund for Iraq, which was founded in 2003, Iraq's oil revenues and the money transferred from the Oil for Food program of the United Nations and its accounts are audited by independent accountants who would report to the International Council for advice and oversight to ensure transparency.
The Board has extended the work of the Development Fund for Iraq and the International Advisory and Monitoring as well as providing immunity to oil revenues deposited in the fund last December for a year ends on December 31, 2010.
It was suggested that the UN Secretary General in his report to end the privileges and immunities enjoyed by the Development Fund for Iraq as soon as it becomes wholly owned by Iraq and as soon as the Iraqi government is ready to assume the responsibility to respond to any complaints or responsibilities under its new arrangements after December 2010.
In the meantime, he sent his Iraqi Foreign Minister Hoshyar Zebari sent a letter to the Security Council announced this week, work plan and timetable for the changeover to the new arrangements for the Development Fund for Iraq and the International Advisory and Monitoring Board, which will begin in January 2011 in a manner enabling them to comply with paragraph 21 of resolution 1483, which says that Iraq must pay five percent of oil revenues to fund reparation be.
The Zebari also reiterated Iraq's commitment to settle all debts, which he inherited from the former Iraqi regime and the continuation of the study until a final settlement.
Ban welcomed the report of Iraq to the Council and recommended the government to recognize their obligations under resolution 1483.
Is due to a bank official of the Iraqi National Council in an open meeting of these arrangements on Tuesday
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*** Iraq April 2010 ~ Security Council Report ...
Chapter 7 - Important Dates ~ Reasons that are causing Iraq to remain under Chapter 7:
