XXXXX##### Iraqi funds between several options .. I represent the extension of protection

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XXXXX#####  Iraqi funds between several options .. I represent the extension of protection Empty XXXXX##### Iraqi funds between several options .. I represent the extension of protection

Post  Admin on Tue May 07, 2013 8:13 pm



08/05/2013 12:00 AM

With the approach of the end of the period
Baghdad - Mostafa Hashemi



At the time is approaching when Iraq from the expiry date of the protection fund Iraqi funds DFI by the Government of the United States, called specialists government officials to reconsider this issue and choose the most appropriate solution to end this file from a range of options notably the transfer of the remaining money in the fund to Iraq, and the central bank to bear the responsibility to pay off debts creditors.

And called economists need to ask the American side to extend for another year, to coincide with Iraq's commitment to implement all UN resolutions, the most important settlement of external debt, which left them anything but little, while others said that as long as Chapter VII present the extension of an existing inevitably.

The researcher said Ahmed al-Husseini (morning): The aim of finding this fund is to ensure the continued payment of Iraq's debt, especially Kuwait, including the amount of the proportion Astqtaatha of the fund 5 percent of Iraqi oil revenues, adding that the problem in this issue more political than economic. At the same time stressing that Iraq is still subject to Chapter VII, and as long as the item is based, the extension will be the reality of the Iraq faces.

He Husseini that the extension of protection money is required at this stage, at least until the general election in the country in the next year and wait for the economic changes that will occur after the political changes.

For his part, saw the economic expert Hilal Taan that Iraq's interest to apply for an extension of another year Fund for the Protection of Iraqi funds for the purpose of ending the file of the entire debt and return the money to the disposal of the Iraqi government.

And the form of the Fund for the Protection of Iraqi funds under UN Security Council Resolution 1483 to protect Iraqi funds from international claims after the events of 2003, the United States also announced mid last year for agreeing to extend the protection of Iraqi funds deposited in the Development Fund for Iraq until the month of June.

He Taan that to Iraq two options to resolve the file Protection Fund money Iraq (DFI), which is supposed to be preparing government officials to restore the money to the Central Bank of Iraq because they would be protected certainly claims of illegal, or that shall be deposited with Swiss banks to be safe also of those claims.

He pointed out that Iraq has fulfilled its obligations the issue of debt and paid a large part of them, as there are countries turned off the debts on Iraq 100 percent, Kalamarat and the United States, under the Paris Club.

He said the issue of compensation is settled through the allocation of Iraq's 5 percent of oil revenues, stressing that Iraq paid more than $ 110 billion and claims on Iraq is not as it was in the past. And deduct Since then 5 percent of the proceeds of Iraq's oil for such compensation .

But to extend the protection of American funds Iraq and his assets other overseas under required in anticipation of starting an avalanche of lawsuits and claims after the lifting of international cover for these funds.

Its part, said a member of the Finance Committee parliamentary Magda al-Tamimi told (morning): supposed to ask Iraq from the United States The last extension of the presence of potential creditors.

She added that some of these creditors were settled their debts compared to buying bonds, government باثمان cheap, and indicated that he could be the distribution of the fund and make it under the umbrella of other countries كايطاليا اوفرنسا or other., And pointed to the need to resolve this file as soon as this represents a restoration of the prestige of Iraq represented to regain control and discretion his money placed under American tutelage under the supervision of the United Nations.

It was the United States' commitment to the protection of Iraq's money and his assets have been proven in the strategic partnership agreement signed between Iraq and the United States in 2008. Has also been renewed on American protection money for two consecutive years due to end next month.

The Iraqi Central Bank Governor agency Abdul Basit Turki Saeed search late last April with the Fed American Multi reserves Central Bank of Iraq and the protection of Iraq's money during a private visit to New York to discuss topics as well as financial issues with other Fed American, and that this visit came on the sidelines of meetings spring in the United States which is considering the financial and banking issues and the development of new plans for the development of the banking sector.



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