Jordan seeks to satisfy debts from Iraq in the form of trade agreements

[yota691]

Jordan seeks to satisfy debts from Iraq in the form of trade agreements

Baghdad/news/may ...Coinciding with the visit of the Iraqi ministerial delegation led by Finance Minister Rafe Al-Issawi Amman, Jordan, Oman, informed sources revealed that the Kingdom is currently seeking to satisfy debts owed by Iraq

New trade agreements, despite opposition from the Paris Club.

Sources/may news that "Iraqi Finance Minister who is currently visiting Jordan, had promised to discuss Jordan's debt"

"Jordan is seeking to satisfy their debt, and there was a proposal that the interpolation form trade agreements being fulfilled Iraq debt installments of crude oil"

"Iraqi Finance Minister Rafe Al-Issawi said Iraq discussed Jordan's debt, a lack of reimbursement to Kingdom of obstructions of the Paris Club."

He Al-Issawi, told Jordanian newspaper "tomorrow" it is found under the consultations with the IMF in the framework of the annual audit conducted by the UNFPA officials in the capital of Oman, stating that the Governor of the Central Iraqi Planning Minister are switched in the Kingdom.

The former Governor of the Central Bank of Jordan, Mohammed Saeed Shaheen, said Jordan demands Iraq b 1.4 billion dollars had not paid any amount so far.

The former Governor was said in press releases before the end of last year, "Iraq declined payment and continue to submit arguments without paying any money, noting that the Government of Iraq cannot pay debts that these amounts to the previous Government", but the Jordanian Government by Shaheen said she owed the Jordanian Central Bank debt to his Iraqi counterpart and change Governments has nothing to do with the topic.

Shaheen said that Iraq asked to convert the file to the Paris Club to write off 90 percent of the staff and the rest in instalments, but Jordan denied being outstanding debts that cannot be removed unless they are paid in full.

According to Shahin, Iraq debt amounting to $ 1 billion and $ 400 million installments. \ ended \ 24 \.

http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.albaghdadianews.com%2Feconomy%2Fitem%2F5792-AkAEDl-bYOIO-kAYObnJAs-DnNlmA-Ll-AkIEAj-IkO-yoKk-AbJAjnAb-bvAEn%25D8%25A9.html

[wavggg]

OK just beause I don't think it has ever been revealed -

JUST WHO are the members of the Paris Club????

Who are these guys that forgave zillions in debt?

What did they get in return?

(perhaps a controlling interest in Iraq's land or reserves for the future???)

thanks!

gg

Edited March 10, 2012 by wavggg

[DEESEAN]

I don't think i have ever seen so many people line up to forgive a country of their debt. Maybe it's just me but there seems to be a whole lot going on behind the scenes that the public isn't aware of... I wonder how many hand shakes have been given for all of this debt to just disappear.

[yota691]

Paris Club

From Wikipedia, the free encyclopedia

Map of the members of the Paris Club

The Paris Club (French: Club de Paris) is an informal group of financial officials from 19 of some of the world's biggest economies, which provides financial services such as war funding, debt restructuring, debt relief, and debt cancellation to indebted countries and their creditors. Debtors are often recommended by the International Monetary Fund after alternative solutions have failed.[citation needed]

It meets every six weeks at the French Ministry of the Economy, Finance, and Industry in Paris. It is chaired by a senior official of the French Treasury, currently the Director General of the Treasury [Ramon Fernandez]. The club grew out of crisis talks held in Paris in 1956 between the nation of Argentina and its various creditors. Its principles and procedures were codified at the end of the 1970s in the context of the North-South Dialogue.[citation needed] http://en.wikipedia.org/wiki/Paris_Club[/size]Contemporary events

[edit]1990s

In the 1990s, the club began to treat the HIPC (Heavily-Indebted Poor Countries) and non-HIPCs differently. The club began to grant increasingly larger debt reductions for the HIPCs.[citation needed] For the non-HIPCs, the club engaged less in debt reductions and moved towards encouraging the absorption of non-HIPCs' financial losses by bondholders and other private creditors.

[edit]2000s

In 2004, the Club decided to write-off the debts of Iraq, as the rebuilding of Iraq is incomparable.[clarification needed] After the 2004 Indian Ocean earthquake, the Paris Club decided to suspend temporarily some of the repayment obligations of the affected countries.

In November 2005, during the tenure of Dr. Ngozi Okonjo-Iweala as Nigeria's Minister of Finance,[1] the Nigerian government "won Paris Club approval for a debt-relief deal that eliminated $18 billion of debt in exchange for $12 billion in payments ...". This discharged "...$30 billion of Nigeria's total $37 billion external debt."[2]

In April 2006, Nigeria became the first African country to fully pay off its debt (estimated $30 billion) owed to the Paris Club.[citation needed]

On September 2, 2008, President Cristina Fernández de Kirchner of Argentina announced plans to pay off the entirety of debt owed to the Paris Club, which amounted to roughly $6.7 billion. Political pressures ensued and though the government officially insists its intention to repay,[3] government officials have stated that this is unlikely until global credit conditions improve.[4]

On September 16, 2010, the Paris Club canceled 1.26 billion dollars of Liberia's debt, 100% of the Paris Club's share of a World Bank-IMF poverty reduction program.[5]

On November 18, 2010, the Paris Club canceled $7.35Bn of Democratic Republic of the Congo's debt. This resulted in the removal of over 50% of their debt.

Edited March 10, 2012 by yota691

[uncirculd]

This is getting better. Remember the article about Shabibi telling the committee that is was a good time to talk about Iraq's debt? Well, this is another step to the right direction of chap 7. Not only did they have to make kuwait reparations but they had to make good with debts and make amends with neighbors.

So this one they will have to just pay. It's not like it's billions. Less than 2.

They are about to balance the books of the government debt, (CBI, etc); then the zeros are quietly reeling in and what did Shabibi say from there? yep, RV the rest.

Edited March 10, 2012 by uncirculd

[Carrello]

This is getting better. Remember the article about Shabibi telling the committee that is was a good time to talk about Iraq's debt? Well, this is another step to the right direction of chap 7. Not only did they have to make kuwait reparations but they had to make good with debts and make amends with neighbors.

So this one they will have to just pay. It's not like it's billions. Less than 2.

They are about to balance the books of the government debt, (CBI, etc); then the zeros are quietly reeling in and what did Shabibi say from there? yep, RV the rest.

Thanks, uncirculd. Those are good reminders, and I would bet the secretive accounts that Iraq has would barely see a drop if 2 billion were moved out. Easy.

[Shelley]

This is getting better. Remember the article about Shabibi telling the committee that is was a good time to talk about Iraq's debt? Well, this is another step to the right direction of chap 7. Not only did they have to make kuwait reparations but they had to make good with debts and make amends with neighbors.

So this one they will have to just pay. It's not like it's billions. Less than 2.

They are about to balance the books of the government debt, (CBI, etc); then the zeros are quietly reeling in and what did Shabibi say from there? yep, RV the rest.

Hey Uncirculd... Great... It couldn't get any clearer than what you just posted, Thank you. Isn't it amazing how all these countries are helping Iraq get to where they want to be ???? Someone needs to tell them they have to start giving back . Dang it !!!