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Iraqi News 1859 getting voted on

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SECURITY COUNCIL VOTES TO EXTEND ARRANGEMENTS FOR DEPOSIT OF PROCEEDS

FROM IRAQ’S OIL, PETROLEUM PRODUCTS, GAS INTO DEVELOPMENT FUND

Noting Iraq’s progress in the security, political and economic fields, while recognizing that the country still needed regional and international support in order to advance further, the Security Council decided today to extend until 31 December 2009 arrangements for depositing the proceeds from sales of petroleum, petroleum products and natural gas into the Development Fund for Iraq. It also decided to review all resolutions pertaining to Iraq from 1990.

Unanimously adopting resolution 1859 (2008) under Chapter VII of the United Nations Charter, the Council also extended the task of the International Advisory and Monitoring Board in overseeing the Fund for the same period. The Council decided that those decisions would be reviewed upon request by the Government of Iraq or no later than 15 June 2009, while encouraging the International Monetary Fund (IMF) and the World Bank, as members of the International Advisory and Monitoring Board, to brief the Council in January 2009.

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