April 6, 2010
Security Council considering a plan to allow Baghdad, Iraqi oil revenue management
UN Security Council discussed the progress in the application of Article III of resolution 1905 on the management of Iraqi oil revenue and the payment of debt owed by Iraq over the invasion of Kuwait in 1990.
The Board discussed the plan developed by the Iraqi government to transfer management of Iraqi oil revenue to the Finance Ministry and the Council of the Iraqi financial experts in a time frame ends end of the year 2010, the Iraqi government to utilize an independent international auditing firm the interest of transparency.
The Chairman of the Committee of Financial Experts Iraqi Mr. Abdul Basit to the Security Council Iraq's commitment to the full settlement of debts and claims inherited from the former regime, and demanded the international community to continue to provide assistance to Iraq until the completion of the Government of Iraq efforts in this regard.
The UN Security Council called for in UN resolution last year from Iraq to submit a plan to transfer the powers of management of oil revenues from the International Council for advice and oversight to the body established by Iraq for this purpose.
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Links to UN and Iraq - Development Fund for Iraq, oil for food
