To extend the protection of Iraqi funds abroad

[yota691]

Parliament calls for financial transfer of funds to the Development Fund for compensation generations

 

June 10, 2013 12:07

 

Iraq is seeking to emerge from Chapter VII imposed on it since the nineties of the last century, where pay under the sanctions imposed on it 5 percent of the total oil revenues to Kuwait as compensation established by the United Nations under this chapter as Iraq has met its obligations to pay 41 billion dollars to Kuwait in compensation for war Iraq and Kuwait which paid for the Iraqi people as a result of the policy of the former regime reckless where is this amount significant than the impact on the size of fiscal revenue that comes to Iraq annually. 
said a member of the Finance Committee MP Haitham al-Jubouri "morning" that the last remaining of indebtedness of Kuwait will end in 2014/2015 noting that the money deducted from the investment budget and operational should take advantage of them in the areas of serving the country's economy a proposal to establish a fund called Fund "Development of generations," which is a box placed by the amounts that were deducted for indebtedness Kuwait amounting to 5 percent of the total oil revenue after repayment plus additional amounts Other turning to the fund intended to benefit future generations in the future. 
noted Jubouri the importance of protecting future generations from expectations depletion of oil in the long term, noting that this fund will enable them to meet the challenges of the future while not be their imports or stocks can be used and said that this amounts to Atbaky مدخرة but Ststthmrtan supervision of the Commission, Ministry of Finance and Planning and the Ministry of Labour and Social Affairs in order to develop and expand., and said that this proposal will be concluded to turn it into law and it is in its first steps to enter into force reasoned that the money that was deducted as compensation under Chapter VII will go to the fund rather than change investment budget and exposure to waste or corruption. explained Jubouri that negotiations are continuing between the two sides and will give a positive and tangible results in terms of the agreement to repay the debt and the demarcation of the border in accordance with the regulations and international legislation and thus will lead to removing Iraq permanently from Chapter VII will have a free hand to act in his money and build economy. 
, halt Jubouri the need to build the Iraqi economy by building productive sectors useful that these sectors are ineffective in the components of GDP and this Miakd unilateral Iraqi economy, stressing the need to be a contribution actor. 
pointed Jubouri experiences the world in this area, although it does not have what Iraq has the material and human resources and archaeological sites and tourist competencies in various fields, but you find has achieved great diversity in its economic resources so it should be given these activities more attention, he said. called to the need for there to be harmony between the legislative and executive powers in order to reach building a successful strategy with an economic dimension, pointing out that the Ministry of Finance that claim to be a contributing factor in the development of the strategy required to balance and this requires a real specialist in the preparation and take the points raised, which was attended by the World Bank seriously.

Edited June 10, 2013 by yota691

[sandfly]

THANKS THANKS

[gregp]

I have never witnessed iraq moving soo fast, and accomplishing soo many things, as they are this month. Thie investment is about to come true.

[Nelg]

Hope your correct. Would be nice to have a fat bank account.  

[Frangipani]

Excellent find. Thanks Yota.

[jobug38]

Yoga you always manage to find the really great articles keep it up!

[yota691]

To extend the protection of Iraqi funds abroad

 

 

         

11/06/2013 12:00 AM 

BAGHDAD - morning 

agreed that Iraq and the United States to issue a decision by U.S. President Barack Obama to extend immunity to Iraqi balances. He said the Iraqi Central Bank said in a statement yesterday received "morning," a copy of it: "Based on the tireless efforts made ​​by the State of Iraq through formations various meetings held with the U.S. side, it was agreed with the U.S. government to extend the immunity of the balances of Iraq." Said Bank that "the agreement provides for issuing a decision of the U.S. President to extend immunity to balances Iraqi in the United States two branches (the expense of the Development Fund for Iraq, DFI and calculate the Central Bank of Iraq)." 

It was due to expire the decision to extend the previous end of last May, but the new extension will open the way for new measures to protect the money before the end of next year. noteworthy that the Development Fund for Iraq (DFI) was established in May of 2003, by the director of the Coalition Provisional Authority., said MP for the coalition of state law, Abbas al-Bayati The extension of Washington's immunity Iraqi assets in the United States will strengthen the strategic partnership between the two countries. Bayati said "Center Brief for the Iraqi Media Network," that "relations, Iraq - U.S. going in the right direction which serves the common interests.

[lakedreamer]

I think they have a wonderful idea in the Iraqi Development Fund of Generations.  Now if they can just keep Maliki from getting his mitts on it.

[yota691]

 Parliamentary: Development Fund generations اينفع the economy does not come with positive results during the next phase

11-06-2013 05:49 AM

 

 

Baghdad (news) .. Ruled out a member of the Committee on the economy and investment MP / coalition in Iraq / Nahida Daini, to achieve positive results for the Iraqi economy when the enactment of the Development Fund for generations, because of the lack of economic vision clear to the fund. said Daini (of the Agency news): that there are a lot of ideas, proposals and laws the task of the economy have been put forward in the Commission on the economy parliamentary legislation during the coming period, but everyone is optimistic about it, because the laws in Iraq are not applicable, because there are no visions of future economic. said: that Iraq needs international experts in the drafting of important laws, and the lack of overlap lines of authority, noting that the law establish صندق for the development of generations to serve the economy and اينفع future generations but future generations will pay the adult ماعمله price. / End / 8.'s. m / 

[deniscanada]

To extend the protection of Iraqi funds abroad

 

   

 

 

 

 

 

 

 

11/6/2013 12:00 11/06/2013 12:00 AM

 BAGHDAD - morning
 Agreed that Iraq and the United States to issue a decision by U.S. President Barack Obama to extend immunity to Iraqi balances. He said the Iraqi Central Bank said in a statement yesterday received "morning," a copy of it: "Based on the tireless efforts made by the State of Iraq through formations various meetings held with the U.S. side, it was agreed with the U.S. government to extend the immunity of the balances of Iraq." Said Bank that "the agreement provides for the issuing of the U.S. President's decision to extend immunity to Iraqi assets in the United States two branches (account of the Development Fund for Iraq, DFI and the expense of the Iraqi Central Bank)."
 It was scheduled to expire decision to extend the previous end of last May, but the new extension will open the way for new measures to protect the money before the end of next year. Noteworthy that the Development Fund for Iraq (DFI) was established in May of 2003, by the director of the authority CPA., said MP for the coalition of state law, Abbas al-Bayati The extension of Washington immunity Iraqi assets in the United States will strengthen the partnership strategy between the two countries. said al-Bayati's "Center Brief for the Iraqi Media Network," "The Iraqi relations - the U.S. is going in the right direction which serves the common interests.

 

http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Fwww.alsabaah.iq%2FArticleShow.aspx%3FID%3D48104

Edited June 11, 2013 by Markinsa
Merged Topics

[SgtFuryUSCZ]

***//

 

So they get another 18 months to jack us around?

 

Chaos will reign supreme as is the norm and

us Dinarians will continue to take blows to the head with their sick, twisted articles and

our IQD remain fallow in envelopes stashed away in hope chests wherein little hope exists.... sigh.

[yota691]

one more...Central bank: the agreement with Washington to extend immunity to Iraqi assets in the United States

Tuesday, June 11, 2013 09:25

 

[baghdad - where]

 

Iraqi Central Bank announced an agreement with the U.S. on the extension of legal immunity for Iraqi funds.

 

According to a statement of the bank has received all of Iraq [where] a copy of "that, based on the tireless efforts made by the State of Iraq through formations various meetings held with the U.S. side, it was agreed with the U.S. government to extend the immunity of the balances of Iraq."

 

The central bank noted in its statement issued on Monday that "the agreement provides for the issuance of the U.S. President's decision to extend the immunity of Iraqi assets in the United States two branches [account of the Development Fund for Iraq and the Central Bank]."

 

The statement added that "the decision to extend the previous decision was final and ends at the end of last May," returned "the current resolution is done to the Iraqi state institutions."

 

He called on the Iraqi Central Bank "different state institutions to do their utmost to resolve various outstanding issues in order to avoid any actions that would affect the rights of Iraq and its assets, expressing his blessing to this decision and hopes to contribute to achieving the goals that pour to the Iraqi people." Is over.

Edited June 11, 2013 by yota691

[sandfly]

YEP

[Cynthia AH]

 Lord Have Mercy Please!!

[ronscarpa]

Thanks Yota & dc for these good articles...! We appreciate your efforts to bring us key information. Now that "O" officially extended DFI protection, it gives Iraq time to finish everything they need to do to complete the RV process effectively...!

 

RON   

[TQueezy]

THANKSY MCTHANKS

[10 YEARS LATER]

Thanks Yota & dc for these good articles...! We appreciate your efforts to bring us key information. Now that "O" officially extended DFI protection, it gives Iraq time to finish everything they need to do to complete the RV process effectively...!

 

RON   

I hate to say it . . . with this Xtension [ for 1yr-yes? ], couldn't they drag this out till this time next yr ?

[Boozer]

I thank they will move ahead as they want out of chapter 7. I don't see an RV till the last of the yr, into next yr.