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      Iraq emerges from Chapter VII of the United Nations   12/09/2017

        Rmc10 Senior Member All Measures Imposed under Iraq Oil-for-Food Programme Implemented in Full, Security Council Concludes, Unanimously Adopting Resolution 1958 (2017) REPORT from UN Security Council Published on 08 Dec 2017 —View Original SC/13109 SECURITY COUNCIL
      8126TH MEETING (AM) The Security Council concluded today that all the measures imposed in its resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations in relation to the Iraq oil-for-food programme had been fully implemented. Unanimously adopting resolution 2390 (2017), the Council welcomed the fact that the remaining funds in the escrow accounts established pursuant to resolution 1958 (2010) had been transferred to the Government of Iraq pursuant to resolution 2335 (2016). The Council acknowledged the Secretary-General’s final report on the matter (document S/2017/820), which stated, among other things, that the remaining $14,283,565 in the administrative escrow account had been transferred to Iraq. Following the adoption, Amy Noel Tachco (United States) applauded Iraq’s complete implementation of measures under the oil-for-food programme, although the country still faced many challenges. She looked forward to close cooperation internationally and bilaterally in support of Iraq as a federal, democratic and prosperous country. The meeting started at 9:45 a.m. and ended at 9:48 a.m. Resolution The full text of resolution 2390 (2017) reads as follows: “The Security Council, “Recalling its resolutions 1958 (2010) and 2335 (2016), “Acknowledging receipt of the final report of the Secretary-General pursuant to paragraph 4 of Security Council resolution 2335 (2016), S/2017/820, “1. Welcomes the implementing arrangements entered into by the Secretary-General and the Government of Iraq as requested in paragraph 7 of Security Council resolution 1958 (2010); “2. Also welcomes that the remaining funds in the escrow accounts established pursuant to paragraphs 3–5 of Security Council resolution 1958 (2010) have been transferred to the Government of Iraq pursuant to Security Council resolution 2335 (2016); “3. Concludes that all the measures imposed by the Security Council in resolutions 1958 (2010) and 2335 (2016) pursuant to Chapter VII of the Charter of the United Nations have been fully implemented by the parties.” For information media. Not an official record.     DV LINK
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k98nights

Iraq's budget puts deficit at $18.6bn

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Iraq's budget puts deficit at $18.6bn

2011 budget assumes oil exports of 2.4 m bpd

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  • Reuters

Published Sunday, October 10, 2010 Iraq's proposed 2011 budget runs a deficit of 22 trillion dinars ($18.6bn) and assumes oil exports of 2.4 m barrels per day, Deputy Finance Minister Fadhil Nabi said on Sunday.

The ministry last month proposed a budget of 102 trillion dinars ($86.4 billion) based on a world oil price of $70 a barrel.

"We've sent the budget to the cabinet. We are waiting for them to discuss the issue," Nabi said. "Possibly during this week the economic committee will hold a meeting and discuss the budget."

The government, which is trying to rebuild Iraq after years of war and sanctions, is dependent on oil revenue to fund about 95 percent of its budget.

The Opec producer has signed deals with global oil firms that could boost its output capacity to 12 million barrels per day in six to seven years from the current 2.5 million a day, potentially rivalling top Opec producer Saudi Arabia.

The assumed exports of 2.4m bpd next year would represent a significant boost. Iraq's exports in September were 2.021m bpd.

The International Monetary Fund approved a disbursement of $741m to Iraq on October 1 under a $3.7bn loan program and commended the government for maintaining macroeconomic stability in the face of difficult security conditions.

It said Iraq's budget was likely to swing into surplus in 2012 based on conservative assumptions for oil prices and exports.

The budget must be approved by the cabinet and then by parliament.

Iraqis elected a new parliament in March but no political bloc won enough seats for a governing majority. Politicians have been squabbling over the formation of a new government since then, and parliament has not been sitting regularly.

http://www.emirates247.com/news/region/iraq-s-budget-puts-deficit-at-18-6bn-2010-10-10-1.302043

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