July 1, 2011 ~ UN welcomes Iraqi takeover of development fund
*July 11th ~ Iraq's Money ~ Iraq plans new Europe accounts to protect oil money ... and Links - Iraq's Development Fund ...
2010 ~ UNITED NATIONS AND IRAQ ~ Minister of Finance calls to extend the mandate of the United Nations on Iraqi funds ...
and ..* IRAQ WITHOUT SANCTIONS (Great Article) ...
Monday, 19 September 2011 Audit warns of risk of delay to protect Iraqi funds abroad and the Central Bank rule out the alternatives for protection of those funds
Warned the Board of Supreme Audit, Monday, of the consequences of exposure of Iraqi funds abroad at risk because of delays in finding a suitable means of protection, indicating that a circumstance year as long as the form of an obstacle in this regard, while ruled out the Iraqi Central Bank to the existence of alternatives that would protect those funds, the expert stressed economic state that 52 is still calling for Iraq to pay their dues.
The head of the Office of Financial Supervision, Abdel Basset Turki, in an interview for "Alsumaria News", "supposed to find ways to solve the problem of Iraqi funds abroad since before the year 2008," noting that "efforts in this area blocked by the repercussions of circumstance year."
The Turk, that "the issue of debt is not only financial, but a question of manipulation and taking political and tight in the international environment," as he put it.
The international protection of the funds of the Development Fund of Iraq will end after approximately seven months of the day, which means that the fund, which manages money entering Iraq would be uncovered, an exhibition of book assets in the event was sought debt owed by Iraq to the value of sixty-five billion dollars divided between the amounts of compensation and commercial debt.
The Turk, that "there are two types of debt first, business and other related damages," noting that "the compensation sanctioned by the United Nations and the remainder of which about 18 to 19 billion dollars."
He said, "There are other debts of Iraq does not recognize the full amount because they were not under the debt agreements as loans directly but though some of the owners are demanding its benefits," adding that "there are debts of less than a whole business for $50 billion combined."
For his part, ruled out the Central Bank of Iraq was Iraq's assets abroad to the threat, noting that it is considering appropriate alternatives in this regard.
The deputy governor of the Bank, the appearance of favor, "Alsumaria News", "There are opportunities to be the government's revenues in the future under the umbrella of the Central Bank and the deposits but you must study the characteristics of each region in the world court to protect them from any prosecution."
Saleh added that "the central bank is considering alternatives that are easy to achieve such a thing," according to his opinion.
In turn, saw an economist Majid picture, in an interview for "Alsumaria News", that "the fundamental problem lies now in the absence of a specific point of view on the subject of the protection of Iraqi funds and whether it is necessary to continue immunity with the U.S. or not, and the nature of international relations and the extent of allowing this. "
The picture, believed that "there is no problem for the international foreign debt because the majority of the former of which was resolved," adding, "but Kuwait and Saudi Arabia, and a total of 52 countries are still demanding Iraq's debts."
Was established the Development Fund for Iraq, DFI in May 2003 by the Director of the Coalition Provisional Authority was recognized, by a decision of the Security Council of the United United 1483 and after the dissolution of the Coalition Provisional Authority in June 2004, authorizing the U.S. government by the government of Iraq, to manage the fund for the development of Iraq, which were made available for reconstruction projects, and the U.S. Department of Defense, manages the fund in question on behalf of the U.S. government, the mandate has been withdrawn as of 31 December 2007.
The Secretary-General of the United Nations Ban Ki-moon announced on the fifth of April, during his second report to the Security Council pursuant to paragraph 6 of resolution 1936 in 2010, that remaining in Iraq on his release from the obligations of Chapter VII to Kuwait on the issue of missing nationals, property and nations third, the government confirmed its willingness to continue in the maintenance project the Iraqi border, stressing that progress in these issues is a precondition for the restoration of Iraq's international status natural. CBI ~ Two accounts of Iraq to ensure payment of compensation Kuwait
The Security Council approved at its meeting in 15 of last December, IRAQ WITHOUT SANCTIONS (Great Article) ... three special resolutions in Iraq, ending the first oil for food program, while calling the other to extend the immunity that protects Iraq from claims related to era of former President Saddam Hussein to the June 30, 2011 instead of stopping in last December, as planned in the beginning, he confirmed that Iraq will not request any further extensions of the work (the Development Fund for Iraq) which was the immunity from claims for compensation.
In the third resolution, approved by the UN Security Council to lift the ban on imports of Iraq's nuclear program for civilian nuclear and end restrictions on weapons of mass destruction, missiles and so put an end to the ban lasted 19 years, under resolution 687 (1991).
The Iraqi government is keen to ensure that the extension work of the Fund which was established in 2003 after the fall of Saddam Hussein in order to protect revenues from sales of oil and natural gas in Iraq.
Iraq has been under since 1990 under Chapter VII of the Charter of the United Nations, which imposed after the invasion of the regime of President Saddam Hussein of Kuwait in August of the same year, and this item allows the use of force against Iraq as a threat to international security, in addition to the freezing of large amounts of its assets financial in the international banks to pay compensation to those affected by the invasion of Kuwait.
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