August 4th ~ The United Nations to discuss the formation of a government early next month ... and ... Iraq is Nearing the Development of Mechanisms to Protect their Money Abroad ...
July 25, 2010Financial control: delayed formation of the government Syotr to transfer the management of the Development Fund for Iraq to Iraqi authorities
السومرية نيوز/ بغداد Alsumaria News / Baghdad
Announced the Board of Supreme Audit of Iraq, Sunday, that the delay in forming an Iraqi government Syotr on the transfer of the Development Fund for Iraq to Iraqi authorities after the expiration of the mandate of the United Nations by the end of this year, with The Central Bank of Iraq sought to keep the Development Fund in the Treasury U.S. Federal for the protection of Iraqi funds from creditors.
The head of the Office of Financial Supervision, Abdel Basset Turki said in an interview for "Alsumaria News", "The delay in forming the Iraqi government will lead to disabling a lot of political decisions and the technical needs of the receiving Development Fund for Iraq after the expiration of the mandate of the United Nations in the 31 December of the year the current 2010 ", noting that" the transfer of management of the Fund to the Iraqi authorities complements our national sovereignty.The UN Security Council obliged the Iraqi government at the end of the year 2009, develop a plan to take over the management and supervision of the Development Fund for Iraq after a United Nations protectorate by the end of the year 2010.
The Turkey that "the Committee of Financial Experts Iraqis headed submitted an alternative plan to the UN Security Council during the recent talks held in the 12 of July present, include transferring the management of the Development Fund for Iraq to the Iraqi authorities to continue to pay 5% of the imports of Iraqi oil to the Compensation Fund United Nations. "
He said Turkey "that the goal of the plan is to try to end the extraordinary situation of the Development Fund for Iraq and the transfer of management and supervision tasks to the Iraqi authorities," noting that "the Security Council announced its approval of the plan and pledged to follow-up," he says.
A committee of financial experts under the UN Security Council resolution in 2006 and consists of 15 members of Iraqi economists independent chaired by the President of Supreme Audit, Abdel Basset Turki to match the Oversight Committee, established by the Security Council, which includes experts in the International Monetary Fund and the World Bank and the Social Fund for Arab control of oil imports Iraq for the Iraqi people's interests.
The political scene in Iraq, a constitutional crisis currently due to violation of the deadline set by the Constitution after the parliament failed to elect a president and two vice presidents and the President of the Republic, and the postponement of its, prompting President of the Republic outgoing Jalal Talabani to the request by the Iraqi judiciary to express an opinion on the constitutionality of the next stage, reported the Supreme Judicial Council to allow the President to continue his duties until the election of another president, recognizing the constitutional breach occurred.
For his part, said Advisor to the Governor Central Bank of Iraq the appearance of Mohammed Saleh said that "Iraq is currently working on the survival of the headquarters of the Development Fund for Iraq in New York under a different name with the transfer of management and oversight functions to the Iraqi authorities the requirement to continue to pay 5% of the imports of Iraqi oil to the United Nations Compensation Fund ".
Saleh pointed out in an interview with "Alsumaria News", to "keep the Development Fund for Iraq in the Treasury U.S. Federal provides immunity from U.S. law for the Fund for the protection of Iraq's imports of oil from seizure by creditors," pointing out that the "survival of the Fund under the tutelage of the United Nations or not will determine the end of the year 2010. "
Iraq seeks to cancel the debts arising during the period of the previous regime, amounting to more than 120 billion dollars and some due to compensation because of the wars waged by some other countries and traders.
The UN Security Council issued in May 2003, Resolution 1483 provides for the formation of the Development Fund for Iraq for the management and conservation of Iraq's oil revenues and the establishment of the International Advisory and Monitoring to monitor its implementation, the Fund developed under the auspices of the United Nations in order to prevent the depletion of funds by the countries that were payable to the former regime.
And placed in the "Development Fund for Iraq" all the revenues from Iraqi oil exports and the United Nations withdraws from such proceeds the proportion of 5%, the compensation awarded to Kuwait for the 1991 war.
