Chapter 7 or Not? Does anyone Know?

[Royce]

I believe Iraq has to officially request to be removed from Chapter 7, and the UN has to either accept the request to remove them or deny the request and remove them out of Chapter 7.

Question 1: Has Iraq officially requested to get out of chapter 7 and has the UN accepted their removal.

Question 2: Would they accept the request if it is put before them?

Question 3: Can the UN decide with out a request to take Iraq out Chapter 7 or leave them under Chapter 7 with out any Official Request from Iraq?

Does anyone know where we are with this issue?

[easyrider]

Yes they have asked to be removed officially. The UN then told them they would review and then they would decide at the next UN meeting which is sometime in June. Kuwait's ambassador supports the removal of chapter 7 for Iraq and they have done all they have resolved all outstanding issues. There is an article today that came out that said the UN supports the outstanding issues between kuwait and Iraq im thinking they will finally be removed in June.

http://dinarvets.com..._0entry962017

looks like a done deal for them in june.

Edited May 22, 2012 by easyrider

[Luigi1]

The UNSC meets next week on this very issue. Iraq is expected to be released from C7.

Under C7 the IQD could still RV but it would not be in Iraq's best intrest. Iraq still needs protection from int'l lawsuits & assests protection in the USA which was done last week by Executive Order.

Iraq must pass the Erbil & tariff Bill. These are what's holding the IQD back from RV & becoming a tradable currency on the world market. Until that happens, the IQD will remain monopoly money. The big investors & the big contracts will stay away without any Erbil or tariffs in place.

[Royce]

Thanks Easy!

If my memory serves me correctly, Doesn't Chapter 7 has to be removed before they can RV and be Internationally recognized officially and trade their currency? That would put the RV after the June meeting at the earliest. Am I remembering this correctly?

Doesn't The US Protection only apply tot the money that is held in the US Accounts for the Iraqi Oil sales? How can the Presidential Order supersede the UN Chapter 7 and still continue to protect Iraq from Creditors from suing Iraq?

[Niteflyer]

These next few weeks could be interesting