Finance Committee, rest assured: Settlement Agreement with the United States to ensure the protection of the money after the lifting of immunity

Admin Mon Apr 21, 2014 7:27 am

21/04/2014

BAGHDAD / JD / .. reassured the parliamentary Finance Committee wary of raising U.S. protection for Iraqi funds deposited in the Development Fund for Iraq, while confirming that there is a settlement agreement approved by Parliament in 2011 to ensure the protection of those funds after the lifting of immunity.

Said committee member Abdul Hussein al-Yasiri told / JD / economic: that there is a settlement agreement with the United States was approved by Parliament in 2011, to ensure Iraq after the UN mandate for the continued U.S. protection of Iraqi funds in the Development Fund for Iraq.

He ruled Yasiri what was said about that the money will go to creditors after the lifting of immunity, asserting that U.S. President Barack Obama issued a decision in the protection of Iraq's reserves of all banks in the world and of the Central Bank of Iraq.

The House of Representatives passed the 2011 Convention on the settlement of claims for the protection of Iraqi assets deposited in the Development Fund for Iraq (DFI) of claims for compensation in U.S. courts.

It is noted that the Minister of Finance Agency purity of net debt and the presence of the governor of the Iraqi Central Bank Search in building the Iraqi Embassy United States of America in Washington, with the legal adviser to the Ministry of Finance of the Foundation Cleary Kutlb development of procedures that will protect Iraqi funds abroad and to be implemented by the Iraqi government after the end of the period of immunity in 22/05/2014.

The Net has been ruled out extension of the international protection of Iraqi funds abroad, estimated at 180 billion dollars.

He pointed out that Iraq has the means capable of providing the necessary protection for his money and that the government is seeking to settle the entire debt obligations and agreements signed by the Paris Club.

The net debt that Iraq ended three and forty state while negotiations are under way to repay the debt to the rest of the eight countries only.

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