CBI News 12/09/2021

[yota691]

Washington stops the automatic deduction of Iraqi oil revenues to compensate Kuwait

Economy

2021-12-09 | 05:16

 

 

Source:

Alsumaria news

 

3,519 views

 

The Chairman of the Committee of Financial Experts, Abdul Basit Turki, revealed today, Thursday, that the US Federal Reserve has stopped the automatic deduction from Iraqi oil revenues in favor of Kuwait’s compensation.

Turki said in an interview with Alsumaria News, “The Committee of Experts received a notification from the Central Bank of Iraq and the Compensation Committee, stating that the US Federal Reserve had stopped the deduction,” noting that “a final batch of Kuwait’s compensation amounting to 43 million dollars will be paid through the Central Bank of Iraq as a payment. One for Iraq to end these compensations in full, which amount to 52.38 billion dollars.

 

 

 

 

 

 

And he indicated that Iraq should seek to get out of the provisions of Chapter VII of the UN Charter.

 

Turki called for "the Ministry of Foreign Affairs and the concerned authorities to move to urge the formulation of a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely."

 

The Iraqi government intends to pay the last batch of compensation for the Kuwait war, before the end of this year, after depositing, the day before yesterday (Tuesday), more than 207 million US dollars, in the compensation account with the US Federal Reserve, to end the compensation file completely.

 

 

The UN Compensation Committee was formed in 1991, obligated Baghdad to pay $ 52.4 billion in compensation to individuals, companies, governmental organizations and others who incurred losses resulting directly from the invasion of Kuwait.

 

Iraq stopped making payments in 2014 during the war on ISIS, which controlled large parts of the country, but resumed payments in 2018.

[6ly410]

Iraq announces the suspension of the automatic deduction for Kuwait's compensation

Posted 2 hours ago

 

06:25 – 09/12/2021

https://iraqakhbar.com/3401970

 

Baghdad - Mawazine News
, the Central Bank of Iraq announced the suspension of the
automatic deduction of Kuwait's compensation.
And the bank stated in a statement received by Mawazine
News, a copy of it, that it “announces the termination of all necessary banking arrangements with the
US Federal Reserve to stop the automatic deduction of Kuwait’s compensation from
Iraqi crude oil export revenues .”
He stressed the possibility of paying the entire remaining amount
of compensation before the end of the current year 2021 to end this file. Ended 29 / h

 

[6ly410]

(The Central Bank of Iraq announces the suspension of the automatic deduction of Kuwait’s compensation)

 

  

 December 09, 2021

 

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(The Central Bank of Iraq announces the suspension of the automatic deduction of Kuwait’s compensation)

 

The Central Bank of Iraq announces that it has terminated all necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait’s compensation from Iraqi crude oil export revenues, and confirms the possibility of paying the entire remaining amount of compensation before the end of the current year 2021 to end this file.

 

Central Bank of Iraq

information Office

December 9, 2021

https://cbi.iq/news/view/1891

[3 bucks new rv rate]

8 hours ago, 6ly410 said:

(The Central Bank of Iraq announces the suspension of the automatic deduction of Kuwait’s compensation)

 

  

 December 09, 2021

 

---

---

(The Central Bank of Iraq announces the suspension of the automatic deduction of Kuwait’s compensation)

 

The Central Bank of Iraq announces that it has terminated all necessary banking arrangements with the US Federal Reserve to stop the automatic deduction of Kuwait’s compensation from Iraqi crude oil export revenues, and confirms the possibility of paying the entire remaining amount of compensation before the end of the current year 2021 to end this file.

 

Central Bank of Iraq

information Office

December 9, 2021

https://cbi.iq/news/view/1891

thanks 6ly410. wow this is more than a great news. hopefully, we will get our reward sooner than we have ever expected after the compensation are being paid off. 

[yota691]

Al-Kazemi’s advisor reveals the benefit of paying Kuwait’s compensation

 

 

1,722 Economy 2021/12/11 10:09 Baghdad today -

Baghdad Today, Saturday, the financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the benefit of paying Kuwait’s compensation. Saleh said, to (Baghdad Today), that "the end of the Kuwait compensation file will add to the budget more than two billion dollars annually, and the end of the Kuwait war compensation, which amounts to 3% for every barrel of oil that is exported, will add to the general budget of Iraq a monthly amount of approximately 200 million dollars, according to current oil prices. He added that "this means about $2.4 billion will be added to the general budget annually, an amount that will inevitably lead to providing part of the country's financial sustainability, and that this amount can be allocated to income-generating investment projects, which enhances part of Iraq's economic situation by relying on its own resources." ".

[Laid Back]

“The Central Bank of Iraq announced the suspension of the
automatic deduction of Kuwait's compensation.
And the bank stated in a statement received by Mawazine
News, a copy of it, that it “announces the termination of all necessary banking arrangements with the
US Federal Reserve to stop the automatic deduction of Kuwait’s compensation from
Iraqi crude oil export revenues .”
He stressed the possibility of paying the entire remaining amount
of compensation before the end of the current year 2021 to end this file.”

 

GREAT NEWS.!!!

 

I got a good feeling about the dinar and the year 2022.

 

Go Iraq 🇮🇶 

Go Kuwait payoff 

Go international 

Go stronger dinar $1:1

 

[yota691]

The 2023 budget is free from deficit with a comfortable fiscal surplus

Wednesday 15 December 2021 261

 

 Baghdad: Muhannad Abd al-Wahhab

 

Fears of the country's economy being hurt by the Federal Reserve's readiness to end cheap financing and raise interest rates on the dollar in the first half of next year have dissipated.

These concerns are real, for countries that import oil and have short-term debt in dollars such as Egypt, Turkey, Pakistan and some poor African countries, which will suffer from a shortage of dollar liquidity.

On the other hand, economic analyzes published by international newspapers expected that countries such as Iraq will witness an increase in imports as a result of the high interest rate of the dollar, due to its selling oil and natural gas at a higher price in the US currency, as well as paying the import bill in high dollars and buying from low-currency markets, such as China and other countries. South Asia.

This optimism was justified by the economist Bassem Antoine, to Al-Sabah, explaining that the Iraqi funds deposited in the US Federal Bank are invested with interest that increases annually, and not “frozen funds,” noting that Iraq has banking agreements with the United States and its assets will attract international investment. Antoine expressed his optimism about the future of the Iraqi economy, in conjunction with the rise in the price of a barrel of oil and the increase in revenues, noting that this rise exceeded the media intimidation about the Corona virus and the new mutated Omicron, and the 2023 budget will be free of deficit due to a surplus of funds.

And he agreed with this optimism, economic expert Osama Al-Tamimi, indicating to "Al-Sabah", that Iraq has agreements to protect its money in the US Federal Bank, pointing out that if the United States feels any danger to its interests from Iraq, it is natural to take steps to protect these interests . Al-Tamimi explained that the existence of a strong, solid and balanced economy that works on self-sufficiency is difficult to achieve today, because the whole world is working jointly and integratively to paint a complete picture of the economy, calling for the success of the Iraqi economy by reducing the percentage of importers and increasing export rates.

 Al-Tamimi pointed out that Iraq is characterized by many different economic capabilities due to its geographical location and its high capabilities at the level of metallic ores and oil.

Iraq is ranked ninth in the world in natural resources, not to mention the agricultural and tourism potentials of all kinds, and geography as an important corridor linking the continent of Asia to northern Europe.

Al-Tamimi called for the establishment of an economic council, similar to the Judicial Council, away from politics, run by specialists with modern thinking capable of drawing future plans for the development of the Iraqi economy.