***** Parliamentary Economic Committee : lift the immunity of Iraqi funds for the completion of national sovereignty

3/6/2014 0:00

 Some members felt that the timing is not Bmahlh
BAGHDAD - Shaima Rashid

Differing views of the members of the parliamentary Economic Committee on the subject of lifting the immunity from Iraqi funds deposited in the Development Fund for Iraq in Washington , regarding the Commission's decision was considered that the timing of lifting is misplaced , he saw one of the members of the Committee that the resolution is complete for the sovereignty of Iraq and do not risk the money .

Attributed the United States the reasons for its decision to lift the immunity of the Development Fund for Iraq to change the conditions that necessitated protection mode on Iraqi oil revenues imposed by UN Security Council Resolution 1483 , to protect them from international claims after the fall of the year 2003.

 Decision of the parliamentary Economic Committee Mahma Khalil between the timing of the lifting of the immunity of U.S. is not suitable , especially that Iraq is still under Chapter VI of the UN Charter , saying in a statement the " morning" that the deadline to lift the immunity is misplaced , especially that there are lawsuits and compensation have not been resolved , noting that " the according to the strategic agreement with United States are obliged to protect the last of the money out of Iraq until the full wrath of all the chapters that were imposed by the United Nations by the policies of the former regime .

He added : It is the duty of the government now that prevents prosecutions for the money and that resolved the files relating to this aspect , noting that the money and after the lifting of the immunity it may be exposed to the calls of a lawsuit because there are countries have debt on Iraq and the companies may be asked to debts and the government to move quickly to address this , noting that the world owes a lot of money for Iraq and the people with the money first , and Khalil called to the establishment of a new fund to put money in it , whether that be deducted from the proceeds of oil or other so as not exposed to malicious prosecution and false baseless .

The UN Security Council had committed the Iraqi government at the end of the year 2010, to develop a plan for the receipt of the oversight functions on the " Development Fund for Iraq," the United Nations for Iraq to then -cum- Treasury U.S. federal to ensure immunity by law, the U.S. presidential him and that will protect Iraq's imports oil from custody by creditors .

 and lift the ban on Iraq's foreign funds returning the proceeds of the Development Fund for Iraq to the control of the Central Bank of Iraq and it becomes possible for any state or company affected by the policies of the former regime in Iraq to sue U.S. courts and claim compensation claims from damage. While taking a member of the Economic Commission Amer Al-Fayez contrary trend , as described lift the immunity from Iraqi funds a good thing , and falls within the item to complete the country's sovereignty , and has no damage on the money , especially that Iraq paid most of its debts .

 Fayez said in a statement the " morning" to lift the immunity of the U.S. is the best step comes many benefits for the economy of the country and gives discretion money by the Iraqi government , which became responsible for their protection , " unlikely occurrence of a significant risk to the money because most of the debt had been settled , leaving only little regard to the private sector for people who do not any more . "


The Iraqi government has played down the importance of the United States to raise the immunity of the Development Fund for Iraq , pointing out that the issue of immunity was lifted by agreement between the two sides .

As the Ministry of Finance confirmed in mid- May the past that it will not ask the U.S. to renew the protection of Iraqi funds deposited in their banks , to assume the responsibility of the Iraqi Central Bank management after coming out of Chapter VII of the Charter of the United Nations.

And the Development Fund for Iraq, DFI form under UN Security Council Resolution 1483 in order to protect Iraqi funds from international claims after the events of 2003 , and deposited in this fund oil export revenues and withdraw the United Nations of such proceeds five percent compensation to Kuwait for Saddam's invasion of its territory in 1990 , while paid and the Ministry of Finance of Iraq's debt before the government recognizes the responsibility of overseeing the fund , has been settling some of the debt with a number of countries have been extinguished by 100 percent, and other debts have been written off by 80 percent according to the Paris Club agreement , as Sweet 20 percent remaining installments comfortable budgets Iraq since the beginning of 2011 and continuing until the year 2028 , as Iraq hit a large part of them.


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