Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Gulf War: The United Nations Committee Announces Payment of Final Reparations to Kuwait


yota691
 Share

Recommended Posts

“The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the rest of Kuwait's compensation is 600 million dollars, indicating that these compensations will end in the first quarter of 2022.
Saleh said in a press interview Monday; “The rest of Kuwait’s compensation is more than half a billion dollars and it is up to 600 million dollars,” noting that “compensations are deducted from oil and at an amount of 3% of the value of each exported barrel out of 52.4 billion dollars imposed on Iraq.”
Saleh added; That “the compensation file will be closed soon and within the limits of the first chapter of the next year 2022,” noting that “the completion of these compensations will close any trace and belongings of Chapter VII imposed by the Security Council on Iraq 30 years ago due to the Kuwait war.”
Saleh pointed out that "the completion of the compensation will bring to Iraq some of the money that was going as compensation to turn its annual flows for the benefit of the Iraqi economy and achieve a financial space of not less than 2 billion dollars annually, according to oil prices, to enhance the financial sustainability of the country."
Iraq must deposit 5% of its export revenues from sales of oil, its products and gas, before reducing it to 3% in 2018 in a UN fund established under the name of the United Nations Compensation Fund.”

 

Iraq has to payoff Kuwait to close any trace and belongings of Chapter VII.

 

In my opinion this is of paramount importance for an increase of the dinar exchange rate.  Even more important than the HCL.

 

Go Iraq 

Go Kuwait payoff

Go international 

Go purchasing power 

 

 

  • Like 2
  • Thanks 2
  • Upvote 6
  • Pow! 3
Link to comment
Share on other sites

 
 2021-11-14 07:52
 

Shafaq News/ The International Experts Committee announced today, Sunday, an amount different from what was announced recently from the remaining compensation from Iraq to Kuwait, explaining that the remaining amount of those compensation is 476 million dollars, while it is likely that the full compensation will be paid in the last quarter of this year.

 

The Compensation Committee had previously indicated on its website on October 31, 2021, that the remaining amount to be paid from these compensations amounted to 324 629 million US dollars.

 

The financial advisor to the Iraqi government, Mazhar Muhammad Salih, said in a previous statement to Shafaq News Agency, that the remaining compensation from Kuwait is 600 million dollars, after paying compensation for the third quarter of the current year 2021, and that these compensations will end in the first quarter of 2022. .

 

The Committee of International Experts said, in a statement received by Shafaq News Agency, that "after paying the third quarter payment for the year 2021, the amounts of deductions paid to the Compensation Fund for Oil Exports and deposited for the next stage amounted to 153 million dollars," noting that "the amount required to be deducted from Iraqi exports. Oil and gas is $476 million.

 

 And the committee added, “With the continuation of the level of global oil prices at what it is now, and if the relevant Iraqi authorities and the ministries of finance and oil and the Central Bank completed payment in return for the in-kind payments to the oil companies that have service contracts, and the Kurdistan Region contributed to the consequences of its oil exports for the past period, the The amount of compensation will be finally paid in the last quarter of this year.

 

The head of the Financial Experts Committee, Abdul Basit Turki Saeed, had called on the Security Council, in his speech before the Compensation Board of the United Nations at its 88th session, held at the United Nations headquarters in Geneva, that the compensation file include a clause that protects Iraq from any future claims for the Kuwait war and that Iraq be expelled Completely from the provisions of Chapter VII of the Charter of the United Nations and canceling the consequences of all decisions on Iraq as soon as it pays the amount of compensation.

 

Iraq must deposit 5 percent of its export revenues from sales of oil, its products and gas, before reducing it to 3 percent in 2018 in a UN fund established under the name of the United Nations Compensation Fund.

 

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

  • Thanks 3
  • Pow! 1
Link to comment
Share on other sites

  • 2 weeks later...

The Information / Baghdad
, the economic expert, Safwan Qusay, confirmed, on Monday, that the full payment of Kuwait’s debts will return to Iraq 3 percent of the oil revenues, pointing out that Iraq is able to overcome the budget deficit and pay its foreign debts after the rise in oil prices and the payment of its debts to its neighbors.
Qusay told Al-Maalouma, "Iraq will be able to overcome the budget deficit and pay its foreign debts if the budget is built on the price of 70 dollars per barrel of oil, especially after the devaluation of the dinar against the dollar, which rationalized consumer spending by 20 percent."
He added, "Iraq is going to pay Kuwait's debts in full next year, with no less than 600 million dollars, and here 3 percent of the oil revenues that are directly deducted and go to Kuwait's debts will be released, and these amounts will be a new source of spending or used to pay off external debts amounting to 20 billion dollars." .
And he indicated that "the debt repayment process will reclassify the Iraqi credit and thus move the investment compass and reassure the investor that the Iraqi economy is able to pay off debts and create job opportunities through the investment window." finished/ 25 n

  • Thanks 5
Link to comment
Share on other sites

37 minutes ago, Laid Back said:

"The debt repayment process will reclassify the Iraqi credit and thus move the investment compass and reassure the investor that the Iraqi economy is able to pay off debts and create job opportunities through the investment window." 
 

- It will reclassify the Iraqi Credit

- It will reassure the investors that Iraqi economy is able to payoff debts 

- It will create job opportunities 

 

Like I said in another post;

Paying off Kuwait compensation for war reparations is of paramount importance for an increase of the dinar exchange rate.

 

All I see is Progress.!

 

Go Iraq 

Go Kuwait payoff

Go new credit rating

Go investment 

Go job opportunities 

Go development 

Go increase dinar exchange rate 
 

Let's hope "next year" is January 2022👍

  • Like 1
  • Thanks 3
  • Upvote 5
Link to comment
Share on other sites

1 hour ago, Laid Back said:

"The debt repayment process will reclassify the Iraqi credit and thus move the investment compass and reassure the investor that the Iraqi economy is able to pay off debts and create job opportunities through the investment window." 

Paying off Kuwait compensation for war reparations is of paramount importance for an increase of the dinar exchange rate.  All I see is Progress.!

 

I totally agree with you Laid Back..! Thanks ... :tiphat:RON

  • Like 1
  • Upvote 3
Link to comment
Share on other sites

1636352391972.jpg

 

Kuwait confirms receiving $1.47 billion in war compensation from Iraq

 
 2021-11-30 23:49
 

 

 

 

Shafaq News/ The National Bank of Kuwait reported today, Tuesday, that Kuwait has received $1.47 billion in war compensation from Iraq.

The bank said that "Kuwait received compensation payments from the United Nations Committee from Iraq for the war, amounting to 1.47 billion dollars (0.4 billion dinars) in April, July and October of this year."

He added, "The remaining amount is 629 million dollars for final payment."

https://shafaq.com/ar/عربي-ودولي/الكويت-ت-كد-تسلمها-من-العراق-1-47-مليار-دولار-كتعويضات-الحرب

  • Like 3
  • Thanks 1
  • Upvote 2
  • Pow! 2
Link to comment
Share on other sites

1 hour ago, HowieC said:

1636352391972.jpg

 

Kuwait confirms receiving $1.47 billion in war compensation from Iraq

 
 2021-11-30 23:49
 

 

 

 

Shafaq News/ The National Bank of Kuwait reported today, Tuesday, that Kuwait has received $1.47 billion in war compensation from Iraq.

The bank said that "Kuwait received compensation payments from the United Nations Committee from Iraq for the war, amounting to 1.47 billion dollars (0.4 billion dinars) in April, July and October of this year."

He added, "The remaining amount is 629 million dollars for final payment."

https://shafaq.com/ar/عربي-ودولي/الكويت-ت-كد-تسلمها-من-العراق-1-47-مليار-دولار-كتعويضات-الحرب

Sooooo close. 

  • Like 1
  • Upvote 1
Link to comment
Share on other sites

On 11/14/2021 at 8:45 PM, yota691 said:

the remaining compensation from Kuwait is 600 million dollars, after paying compensation for the third quarter of the current year 2021, and that these compensations will end in the first quarter of 2022. .

 

4 hours ago, HowieC said:

"The remaining amount is 629 million dollars for final payment."

this sounds good.  but what month will be considered as the end of first quarter of 2022? by the way, what is Iraq's definition of " first quarter of 2022 "?

  • Upvote 1
Link to comment
Share on other sites

22 minutes ago, Longtimelurker said:

"United Nations Committee from Iraq for the war, amounting to 1.47 billion dollars (0.4 billion dinars) in April, July and October of this year."

 

 

‐---------

 

IS THAT A RATE OF 

1 IQD = 3.50 USD ??????

 

That is what it appears to be saying.....but I haven't trusted any translations to English since they babysat the watermelon.   

  • Thanks 3
  • Haha 2
Link to comment
Share on other sites

  • yota691 pinned this topic
  • yota691 featured and pinned this topic

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.