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Zebari: lack of financial liquidity causes us to demand the postponement of the final installment of compensation Kuwait

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Zebari: lack of financial liquidity causes us to demand the postponement of the final installment of compensation Kuwait

By Adminsa 12/12/2014 2:22 a.m. | Views: 5

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Brother - Follow-up

 

Finance Minister Hoshyar Zebari, on Friday, Iraq sought to postpone the final payment of compensation Kuwait, amounting to $ 4.6 billion, on the back of liquidity crisis faced due to lower oil prices and the war with "Daash," while a senior official in the Compensation Commission stressed that any change in date Compensation requires the approval of the Compensation Committee of the UN Security Council.

Zebari said in a statement reported by "Reuters" that "Iraq is seeking to postpone the final installment of Kuwait, amounting to $ 4.6 billion in compensation for Iraq's invasion of Kuwait in 1990-1991," at the time, who faces in Iraq liquidity crisis due to falling oil prices and the war with al Daash terrorist.

Zebari said, "We are so far committed to pay on time, and have discussions with Kuwaiti in an attempt to defer payments for two years or one year at least to give us some time and make a realistic budget".

In the same context, a senior official in the Commission of the United Nations Compensation Commission, said that he "has not been a decision yet in this regard," explaining that "any change in the date of the compensation requires the approval of the Compensation Committee, which consists of 15 members of the members of the UN Security Council".

He continued, "We will listen to the Governing Council which will consider the issue in a special session next week, which is tentatively scheduled to begin in the next 18 December in Geneva".

There was no immediate comment from the Kuwaiti officials so far.

Iraq had to pay nearly $ 52.4 billion to Kuwait through an annual allocation to the Compensation Fund of 5% of Iraqi crude oil exports to the United Nations.

 

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Iraq wants to postpone the payment of the last installment of compensation invasion of Kuwait

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12/12/2014

Detection and Finance Minister Hoshyar Zebari said Iraq wants to postpone the final installment of the invasion of Kuwait compensation amounting to $ 4.6 billion due to the financial crisis caused by falling oil prices and the war against Daash. 

Zebari said in a telephone interview with Reuters that Iraq's commitment so far to pay what it is. "We are now in talks with the Kuwaitis to try to defer payments for two years, or at least a year in order to provide some room to make a reality the budget." 

Iraq was hit almost everything from compensation totaling fifty-two billion and four hundred million dollars to more than a million hand and someone to have claims on Iraq under the pretext of being affected by the invasion. 

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" To make the reality a budget"......sounds like they need to implement a reality budget ! May be I'm making a mountain out a mole hill, but Iraq needs to go ahead and any up ! Thanks Yota

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Nope, a dressed up pig is still Porky. I smell a backroom deal being prepared to be brought to light as a compromise to this matter.

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Wasn't the balance of the compensation to be worked out through preferential trade agreements?     :shrug:

Exactly.

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Exactly.

 

They are playing information games, commonly known as SMOKE. :cigar:

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Iraq is seeking to postpone the last payment of compensation for the Kuwait war with the lack of liquidity

[19:39] 14 / Dec / 12 

 
 

Zebari-141114.jpg?itok=3x347Ucc

 

Erbil, December 12 (PNA) - Finance Minister Hoshiyar Zebari told Reuters that his country is seeking to postpone the value of a final batch of 4.6 billion dollars in compensation for the occupation of Kuwait in 1990 and 1991 at a time when Baghdad is facing a liquidity crisis due to falling oil prices and fight al Daash terrorist. 

 

Since the first time allowed the resumption of Iraq's oil sales for nearly two decades before Iraq pays money to a United Nations body that oversees compensation for looting and damage caused by the occupation of Kuwait, which lasted seven months, during the reign of Saddam Hussein's regime.

 

The compensation was disbursed to more than one million claims were almost all pay and compensation totaling $ 52.4 billion of annual allocations amounting to five percent of the oil export revenue protection from Iraq to the United Nations Compensation Commission.

 

But with the direction of current Iraqi economy toward deflation for the first time since the US-led invasion that toppled Saddam Hussein in 2003 and put an end to sanctions lasted more than ten years, Iraq is facing difficulty in converting a large part of the budget in 2015 to pay off the last payment of compensation in the next year.

 

Zebari said in a telephone interview conducted on Thursday, "We really are committed to pay this (money) in the time until this moment."

 

He added "We are holding discussions with Kuwaiti and seek to postpone payment for two years, or at least for a year to make some room ... to provide a realistic budget."

 

A senior official at the United Nations Compensation Commission in Geneva, said no decision yet, adding that any change would require the approval of the Management Committee, which includes the same five-ten Member States of the UN Security Council.

 

The official told Reuters: "Atramy to our ears that the Governing Council will consider the issue during a special session held next week," he said, adding that it was decided in principle to hold a meeting on 18 December in Geneva.

 

Zebari said: "There is understanding ... next week will see some frantic diplomatic activity between Baghdad and Kuwait, Geneva and New York to make a joint request to postpone the payment," he said, adding that the delay of a year or two will give Iraq "breathing space".

 

The provisions which avoids Iraq to pay compensation determined at the outset by 30 percent and then 25 percent of the oil sales while Baghdad resumed export limited amounts under the United Nations agreement to swap oil with food in 1996. It was to reduce the proportion of allowances to five percent after the overthrow of Saddam Hussein in 2003 and the lifting of sanctions.

 

The International Monetary Fund said that Iraq's economy is heading for a contraction of 0.5 in 2014, the first contraction in at least ten years, and foreign exchange reserves fell by ten billion dollars so far this year.

 

The Fund is likely that the deficit in the 2014 budget up to five percent of GDP.

 

Zebari and hoped that the government agree to a revised budget for 2015 at a meeting on Sunday.

 

Despite going down the price of oil below $ 70 a barrel, said the Minister of Finance that Baghdad is still adopt spending plans for next year based on the approach of the price of this level as IMF expects the arrival of the average crude price to that level over the whole year.

 

Zebari said that after the refusal of Prime Minister Haider al-Abadi to the original draft budget, the Ministry of Finance has reduced spending by about ten billion dollars but still expected the deficit to about $ 30 billion.

 

"He was (deficit originally) exceeds 47 trillion dinars ($ 40 billion), with the presence of all additional expenses. It is then cut back contracts and payments or postpone non-essential projects."

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Legal expert: Call Zebari of Kuwait to postpone the 5% must be from the Council of Ministers
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 BAGHDAD - Iraq Press - December 14 / December confirmed the legal expert, Tariq Harb, the  deduction of the amounts of Iraqi oil to Kuwait are in accordance with UN Security Council Resolution 687 on April 3, 1991 as a result of the invasion of Saddam and not of Kuwait by Iraq in the recipe. 

 

 

 He said the war, said that "the call launched by Finance Minister Hoshyar Zebari on the postponement of payment of deducting a percentage 5% of Iraq's oil imports in compensation to Kuwait, he must be of the Council of Ministers or discuss Ministry of Foreign Affairs of the State of Kuwait, especially since there is a previous visit to the Minister of Foreign Affairs, but was too that this call will be the subject of debate for the speaker of parliament, who visited Kuwait a few days ago. " 

 
 
 

  He said the war "we wished not to be limited call to postpone deducting a percentage 5% of Iraq's oil imports, but the call to end the deduction in its entirety or reduce the deduction rate from 5% to 1%, or only the current circumstances through which Iraq represented a decline in oil prices and lower exports 2% Iraq's oil and the allocation of many funds to fight terrorism and the consequent expenses for the displaced and affected by military expenditures. " 

 

 He went on the legal expert said, "we need to remind the Kuwaiti side that this compensation has been approved by the Compensation Committee and as stated in the Kuwaiti documents without scrutiny or debate of the Iraqi side, which did not attend the Compensation Committee, especially since some compensation show extent of the damage in Iraq is sufficient to demonstrate that Jordan and Israel obtained the compensation of hundreds of millions of dollars on the basis of the damage to the environment Jordanian-Israeli and the environment we do not know how to hit Jordan environment and environment of Israel's military operations in Kuwait, which lies on Jordan and Israel, thousands of kilometers away. " Admiral ended 

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Parliamentary energy outweigh Kuwait in response to Iraq's request to postpone the debts due to the financial crisis

Date: 12/14/2014 13:40

 

Information / special / .. 
tipped the oil and energy bloc in the House of Representatives, Uday Awad, Sunday, to respond to Kuwait to Iraq's request to postpone the debt of his trust for another time because of the financial crisis in Iraq. 
He said Awad told / information /, "The Kuwaiti government collaborating with Iraq in a lot of things, so I expect to respond Kuwait to Iraq's request in debt owed ​​by us to postpone temporarily because of the financial crisis in Iraq. " 
He called Awad "Kuwait to understand the current situation of Iraq, especially that Iraq is leading a war on behalf of the world and the region against al Daash terrorist, "expected to" respond Kuwait Medicine Iraq. " 
The Finance Minister Hoshyar Zebari on Saturday revealed that Iraq may be asked to Kuwait Tahal pay its debts due to the financial crisis and lower oil prices, while not issued from Kuwaiti officials are no comments. Finished / 25 A 

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Parliamentary Economic postpone debt to Kuwait in 2017

  •  Monday, December 15 1 / December 2014 18:14 Written by: Sheikh Salem Hits: 0

photos%2Fdisplay%2Fframe-2004_1.jpgBAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Deputy Chairman of the Parliamentary Economic Commission Harith al-Harthy said on Monday that the committee deferred debt Kuwait amounting to 4.7 trillion dinars to 2017. 

Harthy said that "the economists put the program to overcome the deficit in 2014". Noting that "the experts have to re debt owed ​​by Iraq structuring, programming and investment projects and economic Tjaosalozma in the next two years."


Parliamentary Finance Committee revealed earlier, that the estimated budget deficit in 2014 exceeded 23 trillion dinars, stressing that this deficit is the largest in the budgets of the Iraqi state. 

From: Walid al-Zaidi, the Open: Faten Hussein


Read more: http://dinarvets.com/forums/index.php?/topic/192691-parliamentary-economic-postpone-debt-to-kuwait-in-2017/#ixzz3LyMEH9nb

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The Government of Kuwait are keen on the stability of Iraq and Sntgob with a request to postpone compensation 

57 Show    December 16, 2014 11:13

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Independent / follow-up / - said First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid, on Tuesday, said that Kuwait is keen on the stability and security of Iraq, stressing that his government responds with Iraq, which is facing serious challenges regarding the request to postpone the last payment of compensation, without prejudice to the decisions Security Council.

He immortal in remarks published by the newspaper "Al-Qabas" Kuwaiti and seen by the (independent), "respond with Iraq about the last installment of compensation to postpone without prejudice to the Security Council resolutions," adding that "Iraq is facing serious challenges, one of the counter-terrorism, and Kuwait is keen on security and stability. "

He immortal, that "the international community has formed an alliance of sixty countries to help restore security, the international community is also responsible for the difficult economic situation in Iraq," explaining that "the International Committee of compensation arising from the Security Council resolutions will be considered in this Iraqi demand."

He continued, that "Kuwait has responded and will respond in whatever alleviates the difficulties faced by our brothers in Iraq, without prejudice to the Security Council resolutions."

The Finance Minister Hoshyar Zebari announced on Friday (12 December 2014), Iraq sought to postpone the final payment of compensation Kuwait, amounting to $ 4.6 billion, on the back of liquidity crisis faced due to lower oil prices and the war with "Daash," while a senior official in the stressed Compensation Commission that any change in the date of the compensation requires the approval of the Compensation Committee of the UN Security Council.

 

Kuwaiti Foreign Aajl..ozyr: our response positively to the request of Iraq to defer compensation

Monday, December 1/15 December 2014 23:31

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[Follow-where]

First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah said about his country's position on the Iraqi request to postpone the payment of the final installment of the financial compensation due to the invasion of the former regime that "Kuwait has responded and will respond in whatever alleviates these difficulties faced by the brothers in Iraq within the powers vested Committee on compensation and without prejudice to the UN Security Council resolutions, "followed ..

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Kuwait: respond with Iraq to postpone the payment of compensation

 


Tue Dec 16 2014 eleven three | (Voice of Iraq) - comment.PNGAdd Comment - Alsumaria News / Baghdad 
confirmed the First Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid, on Tuesday, Kuwait's keenness on the stability and security of Iraq, while pointing out that his government respond to Iraq who is facing serious challenges regarding the postponement of the final payment of the compensation, without prejudice to the Security Council resolutions. The immortal in remarks reported by the newspaper "Al-Qabas" Kuwaiti seen by "Alsumaria News", "respond with Iraq about the last installment of compensation to postpone without prejudice to the Security Council resolutions," He pointed out that "Iraq is facing serious challenges, one of the counter-terrorism, and Kuwait is keen on security and stability."He added immortal, that "the international community to form a coalition of sixty countries to help restore security, the international community is also responsible for the difficult economic situation in Iraq." explaining that "the International Committee of the compensation arising from the Security Council resolutions will be considered in this Iraqi demand." He continued, that "Kuwait has responded and will respond in whatever alleviates the difficulties faced by our brothers in Iraq, without prejudice to the Security Council resolutions." The Finance Minister Hoshyar Zebari announced Friday (12 December 2014), Iraq sought to postpone the final payment of compensation Kuwait, amounting to $ 4.6 billion, on the back of liquidity crisis faced due to lower oil prices and the war with "Daash," while a senior official in the Compensation Commission stressed that any change in the date of the compensation requires the approval of the Compensation Committee of the UN Security Council.

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I think they find a small amount of joy in Iraq asking of them . I can't help but think surrounding countries feel a little relieved at iraqs progress being slowed slightly

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12/16/2014 21:33

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BAGHDAD / Obelisk: A spokesman for the Prime Minister's Office tributary Jabouri, Tuesday, said that al-Abadi bag in his upcoming visit to Kuwait will be charged the security and economic My.

Jabouri said in a statement seen by "obelisk", "The Prime Minister Haider al-Abadi Sesame competent committees for the purpose of forming a delegation that will accompany him to visit the State of Kuwait in the coming days."

He added that "al-Abadi call Kuwaiti companies to invest in Iraq as well as the consolidation of political relations between the two countries to eliminate terrorist Daash gangs that threaten the security of the region."

He visited the Prime Minister Haider al-Abadi, on Monday, the United Arab Emirates, arrived with House Speaker Salim al-Jubouri, today to the Iranian capital Tehran to discuss with them in the security file.

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Iraq requests one-year deferral on Gulf War reparations

Wed Dec 17, 2014 6:43am EST

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(Corrects bullet point to $4.6 billion)

Iraq seeks delay in paying $4.6 billion claim to Kuwait

* Cash crisis and war with Islamic State drain Iraqi coffers

* U.N. reparations body to consider request on Thursday

By Stephanie Nebehay

GENEVA, Dec 17 (Reuters) - Iraq, reeling from low oil prices and war with Islamic State, has requested a one-year deferral of a $4.6 billion reparations payment for destroying Kuwait's oil facilities during its 1990-91 occupation, a U.N. official said on Wednesday.

Kuwait and major powers on the ruling body of the U.N. Compensation Commission will consider the formal request at a special session in Geneva on Thursday.

"We have a request for a one-year suspension of the requirement to deposit 5 percent of Iraqi oil revenues into the compensation fund," the official told Reuters. (Reporting by Stephanie Nebehay Editing by Jeremy Gaunt)

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2014-12-17-190211%D8%B9%D9%85%D9%84%D8%A
19:02
12/17/2014
Vice-Chairman of the Parliamentary Economic Commission Harith Al-Harthy said that the committee deferred debt Kuwait amounting to 4.7 trillion dinars to 2017. Al-Harthy said that "the economists put the program to overcome the deficit in 2014," noting that "experts have re debt owed by Iraq structuring, and programming investment projects and to overcome the economic crisis in the next two years. "

 

Iraq formally request the postponement of Kuwaiti reparations and the United Nations is being studied by tomorrow

Wednesday, December 17, 1 / December 2014 16:55

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[Follow-where]

 

The "Iraq's request to postpone the payment of $ 4.6 billion in compensation to destroy oil installations in Kuwait," a result of Saddam Hussein's occupation of Kuwait in the system from 1990 to 1991, a UN official said on Wednesday.

 

The official added, "We have a request to freeze the mandatory deposit of five percent of Iraqi oil revenues in the Compensation Fund for a year."

 

Kuwait will examine major powers in the Committee of the United Nations Compensation Iraqi official request in a special session in Geneva on Thursday.

 

The Finance Minister Hoshyar Zebari said Thursday that Iraq seeks "to postpone the value of a final batch of 4.6 billion dollars of compensation concerning the occupation of the former regime of Kuwait in 1990 and 1991," adding, "We are truly committed to pay this money on time until this moment."

 

He added "We are holding discussions with Kuwaiti and seek to postpone payment for two years, or at least for a year to make some room, to provide a realistic budget," noting, "There you understand this, you will see the coming days, some diplomatic frenetic activity between Baghdad and Kuwait, Geneva and New York to make a joint request to postpone the payment," he said, adding that "postponement for a year or two will give Iraq an outlet of the financial crisis."

 

For his part, announced that First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah said "Kuwait has responded and will respond in whatever alleviates these difficulties faced by the brothers in Iraq within the powers entrusted to the Committee on compensation and without prejudice to the UN Security Council resolutions."

 

He added that "the international community is responsible for the difficult economic situation in Iraq," adding that "the Committee on compensation and emanating from the UN Security Council resolutions will consider this request."

 

This comes Iraqi request of Kuwait at a time when the government is facing a liquidity crisis due to falling oil prices and fight al Daash.

 

Since the first time allowed the resumption of Iraq's oil sales for nearly two decades before Iraq pays money to a United Nations body that oversees compensation for looting and damage caused by the previous regime of the occupation of Kuwait in the nineties of the last century, which lasted seven months.

 

It was compensation from Iraq to exchange more than a million demands were almost all pay and compensation totaling $ 52.4 billion of annual allocations amounting to five percent of the oil export revenue protection from Iraq to the United Nations Taweidat.anthy

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2014-12-18-111611%D8%B9%D9%84%D9%85%20%D

11:16

18/12/2014

Iraqi sources said that Kuwait announce the initial approval of the Baghdad's request to postpone the payment of $ 4.6 billion in compensation to Gulf War II "will have a positive impact on the relationship between the two countries."

Saad al-Sabri, spokesman for the Office of President of the Iraqi government and added that Kuwait approval to postpone the payment of compensation for one year is "welcome the focus" of the Iraqi government, especially in light of the critical economic conditions that prevailed in the country.

Sheikh Sabah Al-Khalid First Deputy Prime Minister and Foreign Minister of Kuwait first Tuesday said that his government responds with Iraq regarding the latest installment of compensation -ualbalg totaling 4.52 billion Dolar- postponed without prejudice to the UN Security Council resolutions.

Iraq has suffered from the financial crisis as a result of a significant drop in oil prices and the global markets and the widening circle of spending, particularly on the war against al-Daash in large areas of the north and east and west of the country.

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18-12-2014 12:14 PM

 

Free -


Announced that the State of Kuwait, Thursday, agreeing to Iraq's request on the postponement of the payment of the last batch of the Gulf War reparations, as pointed out that he will discuss the application tomorrow in Geneva by the International Commission responsible for compensation for the decision. The agent said the Kuwaiti Foreign Ministry Khalid Al-Jarallah In a statement carried by Kuwait News Agency 'KUNA', the 'Kuwait accepted and responded to the request of Iraq on compensation imposed by the Security Council of the State of Kuwait', noting that 'will be discussed demand tomorrow in Geneva by the International Commission responsible for compensation for a decision.' Jarallah added that 'the brothers in Iraq filed the request formally and individually, Kuwait accepted and responded to this request and will discuss tomorrow in Geneva. " It was the first Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid stressed, in (16 December 2014), Kuwait's keenness on the stability and security of Iraq, while pointing out that his country's government responds with Iraq, which is facing serious challenges regarding the postponement of the final payment of the compensation, without prejudice to the Security Council resolutions. It is noteworthy that the Finance Minister Hoshyar Zebari announced, in (12 December 2014), Iraq sought to postpone the final payment compensation from Kuwait, amounting to $ 4.6 billion, on the back of liquidity crisis faced due to lower oil prices and the war with 'Daash', while a senior official in the Compensation Commission stressed that any change in the date of the compensation requires the approval of the Compensation Committee of the UN Security Council.

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United Nations agree to Iraq's request to postpone the payment of compensation to Kuwait

Thursday, 18 December / 1 December 2014 20:29

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[Follow-where]

The United Nations announced it had agreed to Iraq's request to postpone the amount paid the final installment of compensation to Kuwait for a period of one year.

According to a statement received by all of Iraq [where] a copy of the "Council of the United Nations Compensation Commission under the chairmanship of Australia today held a special session to consider the issue of the level of contributions to Iraq in the Compensation Fund in response to a request from the Government of Iraq agreed to postpone Iraq's commitment to the deposit of five percent of oil revenues and five per cent of the value of any non-cash payments to service providers in the Compensation Fund until January 1 of next year 2016. "

He added that "the Governing Council welcomed the support of Kuwait to the request of Iraq," noting that "it is very difficult for the security conditions in Iraq and the unusual challenges of the budget related to confront this issue Administration Council adopted this resolution."

The UN official said on Wednesday that "Iraq's request to postpone the payment of $ 4.6 billion in compensation to destroy oil installations in Kuwait," a result of Saddam Hussein's occupation of Kuwait in 1990-1991 regime.

The Finance Minister Hoshyar Zebari said Thursday that Iraq seeks "to postpone the value of a final batch of 4.6 billion dollars of compensation concerning the occupation of the former regime of Kuwait in 1990 and 1991," adding, "We are truly committed to pay this money on time until this moment."

He added "We are holding discussions with Kuwaiti and seek to postpone payment for two years, or at least for a year to make some room, to provide a realistic budget," adding that "the delay of a year or two will give Iraq an outlet of the financial crisis."

For his part, announced that First Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah said "Kuwait has responded and will respond in whatever alleviates these difficulties faced by the brothers in Iraq within the powers entrusted to the Committee on compensation and without prejudice to the UN Security Council resolutions."

He added that "the international community is responsible for the difficult economic situation in Iraq," adding that "the Committee on compensation and emanating from the UN Security Council resolutions will consider this request."

This comes Iraqi request of Kuwait at a time when the government is facing a liquidity crisis due to falling oil prices and fight al Daash.

Since the first time allowed the resumption of Iraq's oil sales for nearly two decades before Iraq pays money to a United Nations body that oversees compensation for looting and damage caused by the previous regime of the occupation of Kuwait in the nineties of the last century, which lasted seven months.

It was compensation from Iraq to exchange more than a million demands were almost all pay and compensation totaling $ 52.4 billion of annual allocations amounting to five percent of the oil export revenue protection from Iraq to the United Nations Taweidat.anthy


Read more: http://dinarvets.com/forums/index.php?/topic/192901-united-nations-agree-to-iraqs-request-to-postpone-the-payment-of-compensation-to-kuwait/#ixzz3MIGxgief

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