Economy and Investment parliamentary calls for the U.S. to extend the protection to Iraqi funds in foreign banks

Now here is the Million Dollar Question!

I have highlighted a sentence in Red that is making me go Hmmmmm

How can the US government protect the currency in the banks and Iraq get out of Chapter 7 at the same time?

The only thing I can think of it has nothing to do with the RV.(the protection of the monies in the bank) remember this is just an opinion and not a fact!








Posted on: 26/05/2013 12:47:48




BAGHDAD / With: called a member of the Committee on the economy and investment MP Ibrahim stirrup, the need to extend the U.S. protection of Iraqi funds in foreign banks because left unprotected will present the risk.

The deadline agreement between Baghdad and Washington regarding the protection of Iraqi funds abroad that have occurred in the past year will end during the current month.

Rikabi said in a press statement that the American Convention on the protection of Iraqi funds and contributed significantly to maintaining Iraq's money in foreign banks, where she was at risk because of the demand by some states to void debt from Iraq.

"We have approached the U.S. side to extend again on the protection of Iraqi funds while raising Iraq from Chapter VII, and to keep the funds in the country abroad."

The U.S. President Barack Obama signed in May of last year, an executive order to extend immunity to Iraqi funds in the Development Fund for Iraq for a year, which means that Iraqi funds will remain protected from any lawsuits and fake or genuine by companies or individuals in the United States only.

Iraq has been able over the past few years of scheduling and dropping large amounts of foreign debt as well as the implementation of many of the paragraphs of the decisions of the Paris Club on Iraq's economic status. / End


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