19/04/2011
Iraq's debt: the reality of an unknown with the imminent lifting of the immunity from Iraqi funds abroad
Not only that much armchair Iraqis across three decades, the scourge of successive wars came havoc in various parts of life in Iraq, but rather imposed on them this time to pay the bills of expenses of these wars, and pay exorbitant sums in compensation to various subjects in various quarters of the earth ... Wars did not have the option of acceptance or rejection .. And expenditures accounted for a significant burden financially than doubled its profits over the years, we have to be at least according to statistics for the 125 billion dollars.
What is new in this case is near the lift the immunity of U.S. Iraqi funds abroad, it will end with the end of June 2011, according to Security Council resolution No. 1956 issued on January 15, 2010, which gave a period of six months to raise the protection of Iraqi funds, such protection is approved by the the United Nations in May 2003 (after two months of U.S. occupation of Iraq).
And had been in Iraq during the eighties where the Iran-Iraq war large amounts of Arab and foreign countries to finance the war, some of which was the form of grants "back then made by Governments, to claim and as a religion," and others in the form of debt and benefits, and the whole of Iraq's debt is for 74 State, either debt and trade creditors who did not know the numbers have not been identified or restrict them and some judicial decisions to seize the funds of Iraq after the end of the period of immunity.
According to his economics to clarify and explain these debts, incurred by the Iraqi people is a kind of "odious debt", ie religion, which is supposed not to pay because their returns are used against the interests of the people of the debtor country, the fact that the amounts disbursed to spend on the war, and therefore the "religion nasty "does not require the cancellation or exemption it because it is essentially null and void, and that he simply does not constitute an entitlement and does not require repayment as long as the nature, never on the basis of non project.
But specialists in the Paris Club, which is the bargaining and the party between Iraq and the creditors did not take this view, as well as Iraq has not and will not do so for fear of political and economic consequences of such a procedure, since they may initiate the creditor nations to boycott or any action that would bring harm to the Iraqi economy .
For its consideration to how they had the Arab states and Western concerned about this issue, Kuwait, "which has at least one third of Iraq's debt" was one of the most Arab countries in protest at the reduced value of the debt, and returned to be counted each awarded financial Iraq during the war with Iran debts on Iraq duty paid, Iraq has managed so far to pay $ 30 billion out of $53 billion.
And America as an occupier of Iraq, at a time, who was demanding to Britain's side to cut the debt to a rate of 80%, was issued in the other side, a decision by the U.S. Congress provides for forcing Iraq to pay Mullah less than $ 400 million in compensation to U.S. citizens claimed to have been affected psychologically from Iraq's invasion of Kuwait.
While procrastinating from both France and Germany, have refused to reduce the debt ratio to this, claiming that Iraq is a country rich and has a second oil reserves in the world and that he has broad prospects for economic development, but taking into account the reality of Iraq with all the political and economic realities. And hatred between Arab Mtanase positions of Iraq and Iraqis, noble in many times, and the reckless greed of the capitalist west, the fate of Iraq and the Iraqis hanging palm of predestination. Academic researcher, media, and the Code of Iraqi
http://www.sotaliraq.com/articlesiraq.php?id=88007
