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Fouad Hussein announces Iraq's exit from Chapter VII


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Adviser to the Prime Minister of Iraq announces the closure of the Kuwait war compensation file
Iraqi Prime Minister Mustafa Al-Kazemi
 
 

Written by: Ahmed Gomaa

 

Baghdad, more than 30 years after Iraq invaded Kuwait, closed the file for paying $52 billion in compensation, according to what was announced by the economic advisor to the Iraqi Prime Minister.

 

The official Iraqi News Agency quoted Mazhar Salih, the economic advisor to the Iraqi Prime Minister, as saying that "Baghdad has completed the compensation file related to the Kuwait war by paying the last dues of these compensations."

 

 He explained that Iraq paid a total of $52.4 billion, adding that "this amount is not small, as this amount is sufficient to build an electricity grid system that will revive Iraq for many years."

 

An advisor to the Prime Minister of Iraq expressed his hope that the money that was previously earmarked for reforms will be spent on development projects.

 

 

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POSTED ON 2021-12-23 BY SOTALIRAQ

Kuwait’s compensation file is awaiting complete closure.. UN meetings are expected

Kuwait’s compensation file is awaiting complete closure.. UN meetings are expected

The Chairman of the Committee of Financial Experts, Abdul Basit Turki, received an invitation to attend the meetings of the Compensation Committee at the United Nations, on February 9th, related to the invasion of Kuwait.

Turki said in an interview today, Thursday, that “the invitation sent by the head of the Compensation Committee to the UN Security Council, Irene, referring to him, included a mention of the possibility of holding side meetings, before the start of the work of the sixteenth special session of the Compensation Committee Board of Directors in Geneva on February 9 of the year next.”

He added that the meetings to permanently close the compensation file will start next February.

Turki called on the Ministry of Foreign Affairs and the concerned authorities to “draft a draft resolution that includes removing Iraq from the provisions of Chapter VII of the Charter of the United Nations completely,” stressing the need for the upcoming resolution to “protect Iraq from any claims related to Kuwait war compensation, whether it is individual claims or not. Filing lawsuits related to compensation. He also called for "the annulment of all decisions that resulted from the Kuwait war."

And last Tuesday, the Central Bank of Iraq announced in a statement received by Alsumaria News, “The completion of the payment of the last remaining installment of the State of Kuwait’s compensation amounting to (44) million US dollars, and thus Iraq has completed the full payment of the compensation amounts approved by the United Nations Compensation Committee of the Council of Ministers. International security under Resolution No. (687) for the year 1991, with a total of (52.4) billion US dollars for the State of Kuwait.

Chapter VII of the United Nations Charter provides for "coercive measures" if peace is threatened, ranging from economic sanctions to resorting to force.

Chapter VII allows the exercise of pressure on a country to compel it to abide by the goals set by the Security Council, before coercive measures are applied.

The Committee of Financial Experts was established based on a decision of the Council of Ministers, based on the recommendation of the United Nations, to replace an independent specialized Iraqi body in the place of the International Advisory and Monitoring Council, which had been formed under International Resolution No. 1483 of 2003 by the Vice President of the World Bank and the Vice President of the International Monetary Fund International, and a representative of the Arab Economic and Social Development Fund, headed by the United Nations Financial Assistant, who was later replaced by Abdul Basit Turki.

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 took control of large parts of the country, but resumed payments in 2018.

It is noteworthy that the Development Fund for Iraq and the subsequent account was established pursuant to Security Council Resolution No. 1483 on May 22, 2003, to manage the revenues of crude oil and oil products exported from Iraq, the remaining balance of the Oil-for-Food Program and receipts from frozen assets from the former regime.

The fund consists of bank accounts with the US Federal Bank in New York, which are managed by the Central Bank of Iraq on behalf of the Ministry of Finance, which has an account with the Iraqi Central Bank numbered 300600 (the subsequent account), which was opened in 2014.

Under the Security Council resolution, referred to above, 95 percent of the receipts for exports of oil, oil and natural gas sales must be deposited in the fund, while 5 percent is transferred to the United Nations Compensation Fund account, in accordance with Security Council Resolution No. 687 in 1991, and subsequent resolutions .

This fund constitutes the source of financial funding for the Ministry of Finance, where the money is transferred from the fund to the sub-accounts of the Ministry of Finance, and then distributed to the ministries of state and institutions, according to the budget allocated to each of them, in addition to being used to pay foreign debts and cover the costs of credits and other foreign transfers.

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Iraq Says it Paid Final Kuwait War Reparations 

 
Thursday, 23 December, 2021 - 17:30 
 
 
kuwait.jpg?itok=sdU2q-Au
A British tank seen in Kuwait in 1991. Reuters file photo
Asharq Al-Awsat

Iraq has paid its last war reparations to Kuwait more than 30 years since the invasion of the Gulf country by Saddam Hussein, officials said Thursday.

 

On August 2, 1990, Hussein ordered his army to invade Kuwait, before being pushed back seven months later by a US-led coalition.

 

"Iraq has closed the file of the Kuwait war reparations, having paid the last of its dues," Mozher Saleh, the prime minister's economic advisor, was quoted as saying by the official Iraqi News Agency.

 

In total, Iraq has paid $52.4 billion in reparations, he said.

 

"This is not a small amount," he added. "The sum would have been enough to construct an electricity network that would have served Iraq for many years."

 

Despite being rich in hydrocarbons, Iraq's electricity infrastructure has suffered from years of negligence and successive wars, facing regular power cuts, AFP reported.

 

Saleh said he hoped that the slice of budget previously allocated for reparations would now be directed to development projects.

 

The central bank announced Tuesday the payment of the final portion of the reparations, valued at $44 million.

 

The payments were suspended in 2014 when ISIS took over large swathes of Iraq but were resumed in 2018, following the group's defeat.

 

Funds for the reparations come from a five percent tax levied on sales of Iraq's petroleum and petroleum products.

 

The compensation is distributed by a UN agency to claimants who suffered losses or damages as a result of the invasion.

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With Chapter 7 Lifted, Iraq Regains Control of Its Own Economy

07-07-2013
According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017. AFP photo
 

By Goran Mustafa
 

 

ERBIL, Kurdistan Region – The lifting of Chapter 7 sanctions last month can be considered one of Iraq’s biggest achievements since the ouster of Saddam Hussein a decade ago, allowing Baghdad to regain control over its own currency, oil and economy.
 

Chapter 7, imposed on Iraq by the UN Security Council after Saddam’s invasion of Kuwait in 1991, froze all Iraqi assets in international banks, ordering they be used to compensate victims of the aggression. Besides placing limits on use of its wealth, the sanctions also placed limits on the Iraqi military.
 

One of the biggest advantages of the lifting of the sanctions is the return of all frozen assets to the Iraqi government, estimated at $82 billion, according to Central Bank data.  Its return will not only revitalize the economy, it will strengthen the value of the Iraqi dinar and increase its purchasing power.
 

A few hours after Chapter 7 was lifted, the value of Iraqi dinar increased against other currencies. The exchange rate of dinar is fixed against the dollar, but its value continues to rise. Saif Al-Halafi, an economic and banking expert, expects that the dinar will probably replace the dollar for investments, and that as demand for the dinar rises, so will its value.
 

With Chapter 7 lifted, Iraq also can independently handle its oil revenues without UN supervision.
 

“The lifting of Chapter 7 against Iraq will enable it to regain independence in its oil policy, and Iraq again can become an important regional and international energy player,” said economic expert, Dr. Rebwar Khinsi. Iraq plans to emerge as one of the world’s biggest oil exporters in 12 years.
 

According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017, elevating the federal budget to $216 billion dollars. The plan aims for exports of nine million barrels bpd by 2020, raising the budget to $324 billion dollars. In 2025, the federal budget will reach 432 million dollars, if Iraq succeeds to export 12 million barrels of oil per day.
 

Under George Bush’s administration the US government agreed to keep $50 billion belonging to Iraq in America, and Barack Obama’s administration continues to do the same. An estimated $7.8 billion dollars are blocked in Jordan and Lebanon, and a huge amount of capital belonging to Iraqi Airways remains frozen in Kuwait and Jordan.
 

The United Nations Security Council forced Iraq to compensate Kuwait for an estimated $52 billion. Following the first Gulf War, Iraq did not have an independent economic policy, with all of its income administered by Iraq’s development program and supervised by the UN. Five percent of Iraq’s annual oil revenue was allocated to compensating Kuwait.
 

So far, Iraq has paid $41 billion dollars to Kuwait. According to Iraqi Foreign Minister Hoosyar Zebari, Baghdad is committed to paying the rest of the remaining $11 billion in compensation to Kuwait, and expects to pay off all of its debts by 2015.

 

link  :  https://www.rudaw.net/english/business/07072013

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15 minutes ago, 3 bucks new rv rate said:

With Chapter 7 Lifted, Iraq Regains Control of Its Own Economy

07-07-2013
According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017. AFP photo
 

By Goran Mustafa
 

 

ERBIL, Kurdistan Region – The lifting of Chapter 7 sanctions last month can be considered one of Iraq’s biggest achievements since the ouster of Saddam Hussein a decade ago, allowing Baghdad to regain control over its own currency, oil and economy.
 

Chapter 7, imposed on Iraq by the UN Security Council after Saddam’s invasion of Kuwait in 1991, froze all Iraqi assets in international banks, ordering they be used to compensate victims of the aggression. Besides placing limits on use of its wealth, the sanctions also placed limits on the Iraqi military.
 

One of the biggest advantages of the lifting of the sanctions is the return of all frozen assets to the Iraqi government, estimated at $82 billion, according to Central Bank data.  Its return will not only revitalize the economy, it will strengthen the value of the Iraqi dinar and increase its purchasing power.
 

A few hours after Chapter 7 was lifted, the value of Iraqi dinar increased against other currencies. The exchange rate of dinar is fixed against the dollar, but its value continues to rise. Saif Al-Halafi, an economic and banking expert, expects that the dinar will probably replace the dollar for investments, and that as demand for the dinar rises, so will its value.
 

With Chapter 7 lifted, Iraq also can independently handle its oil revenues without UN supervision.
 

“The lifting of Chapter 7 against Iraq will enable it to regain independence in its oil policy, and Iraq again can become an important regional and international energy player,” said economic expert, Dr. Rebwar Khinsi. Iraq plans to emerge as one of the world’s biggest oil exporters in 12 years.
 

According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017, elevating the federal budget to $216 billion dollars. The plan aims for exports of nine million barrels bpd by 2020, raising the budget to $324 billion dollars. In 2025, the federal budget will reach 432 million dollars, if Iraq succeeds to export 12 million barrels of oil per day.
 

Under George Bush’s administration the US government agreed to keep $50 billion belonging to Iraq in America, and Barack Obama’s administration continues to do the same. An estimated $7.8 billion dollars are blocked in Jordan and Lebanon, and a huge amount of capital belonging to Iraqi Airways remains frozen in Kuwait and Jordan.
 

The United Nations Security Council forced Iraq to compensate Kuwait for an estimated $52 billion. Following the first Gulf War, Iraq did not have an independent economic policy, with all of its income administered by Iraq’s development program and supervised by the UN. Five percent of Iraq’s annual oil revenue was allocated to compensating Kuwait.
 

So far, Iraq has paid $41 billion dollars to Kuwait. According to Iraqi Foreign Minister Hoosyar Zebari, Baghdad is committed to paying the rest of the remaining $11 billion in compensation to Kuwait, and expects to pay off all of its debts by 2015.

 

link  :  https://www.rudaw.net/english/business/07072013

This is an old article from 2013

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21 minutes ago, 3 bucks new rv rate said:

sorry, i thought that would be a good reading for preparation when chapter 7 will be lifted one day.

It's all good my friend, I just wanted to clarify because I know personally how easy it is to get confused with dinar news. :tiphat:

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1 hour ago, 3 bucks new rv rate said:

Decimal plan

Saleh stressed the need for a 10-year development plan to benefit from oil imports, as infrastructure development begins and ends with income-generating projects, expecting 2022 to be a year of progress and prosperity for Iraq and positive indicators for its return to normal economic life and integration into the international community.

decimal plan???? no one pick up on this?

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12 minutes ago, Longtimelurker said:

Where did you see that? Nice find!

I saw that article, too Longtimelurker and 3bucks posted it. May be someone else(?) Moved that article. May be we should ask the moderator to put the article back and repost it here. Thanks and i am really appreciated it moderator.

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Here the original article that doesn't infringe on copyright issue from another forum...

 

 

 

A new page in Iraq's economic history after closing the Kuwait compensation file

Kuwait's compensation - which was costing Iraq more than two billion dollars annually - will be added to Iraq's budget and block one of the exchange doors.

A client counts his money at Al-Rafidain bank in BaghdadJune 21, 2009. Total bank deposits in February -- the latest figures available -- jumped by half to 36.6 trillion Iraqi dinars ($31 billion) from a year before, and loans surged 65 percent to 5.1 trillion dinars over the same period, central bank data show.  To match feature IRAQ/BANKS REUTERS/Bassim Shati (IRAQ CONFLICT BUSINESS)
The compensation file cost Iraq tens of billions of GDP and the efforts of its economy (Reuters)
12/23/2021
 

Iraq folded one of the most draining files on its economy, after paying all its dues in the Kuwait compensation file, amid optimism about an economic recovery and openness to global investment.

Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, said that Iraq had ended the file of compensation for the Kuwait war, noting that "in this way, Iraq paid all its obligations imposed on it under Chapter VII of the Charter of the United Nations and relevant Security Council resolutions in 1991."

He added that the compensation file cost Iraq from the gross domestic product and the efforts of its economy about 52.4 billion dollars, explaining that this amount is not small, this amount is sufficient to build an electricity network system that revives Iraq for many years.

Saleh considered that closing the Kuwait compensation file is a new page in Iraq's economic history.

He explained that "this file used to cost Iraq 6-7 million dollars a day," noting that the value of these funds from Iraq's current exports - which amount to more than two billion dollars annually - will be added to Iraq's budget and block one of the exchange doors.

22-11.jpg?w=770&resize=770%2C513Saleh expressed his hope to continue deducting the compensation percentage to be used in development and investment in projects (Al-Jazeera Net)

development and investment

Saleh expressed his hope that this money would go to development and be invested in projects that employ the workforce and produce income.

And Al-Kazemi’s advisor indicated that Iraq was imposed on it by the Security Council about 40 resolutions due to the Kuwait war and was completely shackled until the present time.

He pointed out that Iraq has great prospects for its integration into the global economy, explaining that the isolation it is experiencing is great, and the planes of many countries of the world still do not reach Baghdad Airport, which indicates that Iraq is still partially besieged, which results in considering it a war zone that makes insurance and shipping costs high. This hinders economic progress.

Decimal plan

Saleh stressed the need for a 10-year development plan to benefit from oil imports, as infrastructure development begins and ends with income-generating projects, expecting 2022 to be a year of progress and prosperity for Iraq and positive indicators for its return to normal economic life and integration into the international community.

Basem Jamil Antoine, Vice President of the Iraqi Economists AssociationAntoine considered closing the Kuwait compensation file to restore confidence in Iraq and its investments (Al Jazeera Net)

Restoring confidence in Iraq

While the economic expert Bassem Antoine stressed that closing the Kuwait compensation file will restore confidence in Iraq and its investments, in addition to improving its image and reputation among several countries and companies to serve the people of the country, as well as the confidence of foreigners in Iraq, pointing out that exit from Chapter VII will be followed by some procedures, and fall on the Central Bank. efforts at that.

And Antoine indicated that Iraqi banks will restore their dealings, such as using correspondents from abroad, to achieve great and wide achievements with these banks, such as Al-Rafidain Bank, which is mainly a giant bank, in addition to the need for intermediary banks with Iraq.

He stated that the percentage that was deducted from Iraqi oil sales in favor of Kuwait, will continue to be deducted, but this time in favor of a sovereign fund, similar to the Gulf countries.

For his part, the academic at Basra University, Nabil Jaafar, urged the government to demand the removal of Iraq from Chapter VII to VI, and to liberate its financial accounts, especially oil revenues that go to the US Federal Bank (the Central Bank) to deduct the share of compensation from it.

He explained that the compensation is over, and therefore the oil revenues - which are in foreign currency - should go directly to Iraq, stressing the need for Iraq to ask the Security Council to protect its funds deposited abroad.

He pointed out that the government's approach after this file is to establish a sovereign fund in which the 3% of oil sales that used to go to Kuwait, which sometimes amounted to two billion dollars annually, will be deposited, to be invested at home and abroad, and be a kind of buffer against the international crises that befall Iraq as one of the countries rentier.

gains

Economic analyst Tariq Al-Ansari stressed that Iraq has achieved gains from ending the file of compensation and reducing the burden on the budget, which will reflect positively on the country by investing the amounts that were paid in compensation - which are estimated at two and a half billion annually - in infrastructure, absorb unemployment and reduce inflation and poverty.

He stressed the need to put the Iraqi economy on the right track from a scientific and methodological point of view, and to restructure the economy with its monetary, financial, investment and oil policies, as mentioned in the "White Paper".

Source Iraqi press
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4 hours ago, yota691 said:

Here the original article that doesn't infringe on copyright issue from another forum...

 

 

 

A new page in Iraq's economic history after closing the Kuwait compensation file

Kuwait's compensation - which was costing Iraq more than two billion dollars annually - will be added to Iraq's budget and block one of the exchange doors.

A client counts his money at Al-Rafidain bank in BaghdadJune 21, 2009. Total bank deposits in February -- the latest figures available -- jumped by half to 36.6 trillion Iraqi dinars ($31 billion) from a year before, and loans surged 65 percent to 5.1 trillion dinars over the same period, central bank data show.  To match feature IRAQ/BANKS REUTERS/Bassim Shati (IRAQ CONFLICT BUSINESS)
The compensation file cost Iraq tens of billions of GDP and the efforts of its economy (Reuters)
12/23/2021
 

Iraq folded one of the most draining files on its economy, after paying all its dues in the Kuwait compensation file, amid optimism about an economic recovery and openness to global investment.

Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, said that Iraq had ended the file of compensation for the Kuwait war, noting that "in this way, Iraq paid all its obligations imposed on it under Chapter VII of the Charter of the United Nations and relevant Security Council resolutions in 1991."

He added that the compensation file cost Iraq from the gross domestic product and the efforts of its economy about 52.4 billion dollars, explaining that this amount is not small, this amount is sufficient to build an electricity network system that revives Iraq for many years.

Saleh considered that closing the Kuwait compensation file is a new page in Iraq's economic history.

He explained that "this file used to cost Iraq 6-7 million dollars a day," noting that the value of these funds from Iraq's current exports - which amount to more than two billion dollars annually - will be added to Iraq's budget and block one of the exchange doors.

22-11.jpg?w=770&resize=770%2C513Saleh expressed his hope to continue deducting the compensation percentage to be used in development and investment in projects (Al-Jazeera Net)

development and investment

Saleh expressed his hope that this money would go to development and be invested in projects that employ the workforce and produce income.

And Al-Kazemi’s advisor indicated that Iraq was imposed on it by the Security Council about 40 resolutions due to the Kuwait war and was completely shackled until the present time.

He pointed out that Iraq has great prospects for its integration into the global economy, explaining that the isolation it is experiencing is great, and the planes of many countries of the world still do not reach Baghdad Airport, which indicates that Iraq is still partially besieged, which results in considering it a war zone that makes insurance and shipping costs high. This hinders economic progress.

Decimal plan

Saleh stressed the need for a 10-year development plan to benefit from oil imports, as infrastructure development begins and ends with income-generating projects, expecting 2022 to be a year of progress and prosperity for Iraq and positive indicators for its return to normal economic life and integration into the international community.

Basem Jamil Antoine, Vice President of the Iraqi Economists AssociationAntoine considered closing the Kuwait compensation file to restore confidence in Iraq and its investments (Al Jazeera Net)

Restoring confidence in Iraq

While the economic expert Bassem Antoine stressed that closing the Kuwait compensation file will restore confidence in Iraq and its investments, in addition to improving its image and reputation among several countries and companies to serve the people of the country, as well as the confidence of foreigners in Iraq, pointing out that exit from Chapter VII will be followed by some procedures, and fall on the Central Bank. efforts at that.

And Antoine indicated that Iraqi banks will restore their dealings, such as using correspondents from abroad, to achieve great and wide achievements with these banks, such as Al-Rafidain Bank, which is mainly a giant bank, in addition to the need for intermediary banks with Iraq.

He stated that the percentage that was deducted from Iraqi oil sales in favor of Kuwait, will continue to be deducted, but this time in favor of a sovereign fund, similar to the Gulf countries.

For his part, the academic at Basra University, Nabil Jaafar, urged the government to demand the removal of Iraq from Chapter VII to VI, and to liberate its financial accounts, especially oil revenues that go to the US Federal Bank (the Central Bank) to deduct the share of compensation from it.

He explained that the compensation is over, and therefore the oil revenues - which are in foreign currency - should go directly to Iraq, stressing the need for Iraq to ask the Security Council to protect its funds deposited abroad.

He pointed out that the government's approach after this file is to establish a sovereign fund in which the 3% of oil sales that used to go to Kuwait, which sometimes amounted to two billion dollars annually, will be deposited, to be invested at home and abroad, and be a kind of buffer against the international crises that befall Iraq as one of the countries rentier.

gains

Economic analyst Tariq Al-Ansari stressed that Iraq has achieved gains from ending the file of compensation and reducing the burden on the budget, which will reflect positively on the country by investing the amounts that were paid in compensation - which are estimated at two and a half billion annually - in infrastructure, absorb unemployment and reduce inflation and poverty.

He stressed the need to put the Iraqi economy on the right track from a scientific and methodological point of view, and to restructure the economy with its monetary, financial, investment and oil policies, as mentioned in the "White Paper".

Source Iraqi press

Great article!

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All assets belonging to Iraq as the result of Security Council Resolution # 1483 will be freed.  International Chapter7 deals with countries that are considered a threat to world peace . These countries include Iran , Lybya  and   North Korea , and as of late ,Iraq. The sovereignty of these countries is not internationaly  recognized .  We all thought that chapter#7 was a done deal ,but i guess it wasn't . God only knows the monetary value of these frozen assets  , but unless Iraq is prepared to launder  this money ,they better rv/ri  in a very timely manner .

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Government clarification on the fate of the financial deduction after the payment of Kuwaiti compensation
  
{Economic: Al Furat News} The government has clarified about the fate of the financial deduction percentage that was being paid for Kuwaiti compensation after this file was recently closed after Iraq paid the last payment of it a few days ago.

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, told {Euphrates News}: "The percentage of deduction that was allocated to compensation for the Kuwaiti woman will return to the financial budget to enhance revenues."

And regarding the possibility of allocating this percentage to the Generation and Sovereign Funds, Saleh said, “The idea of establishing such funds is usually for small oil countries, where their money is invested outside the country in funds, securities, real estate and bonds to generate financial income for the country.”

However, he added, "But these projects are for the surplus economy and not for the deficit economy, as in Iraq, which does not have a financial surplus for these funds with a deficit in its budget."

The day before yesterday, Iraq announced the closure of the file of compensation payments to Kuwait, which amounted to 52 billion dollars, more than 30 years after the Saddam regime invaded the neighboring country.

And the Central Bank of Iraq announced last Tuesday, the payment of the last installment of $ 44 million.

Raghad Daham

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19 minutes ago, nannab said:

Your girls are beautiful LGD and growing to fast.  :wub:  SANTA 

Thanks. Lady Grace was taking the picture, but look at this. 

Hard to believe she's already 10 years old. She wasn't even born when I got into dinar :lol:

 

 

Resized_20211214_162550.jpeg

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Kuwaiti Ambassador in Baghdad: The United Nations will issue a final decision to close the file of financial compensation to Iraq
Salem Al-Zamanan
 
 

a u a

 

 
 

The Kuwaiti ambassador to Iraq, Salem Al-Zamanan, confirmed that the United Nations Compensation Committee will issue a decision to permanently close the file of financial compensation to Iraq, noting that the pledges of the donors’ conference are still in place, and that there are future plans to support Iraq. 

Al-Zamanan said - in statements to the Iraqi News Agency (INA) today (Saturday) - "The Iraqi province of Anbar is witnessing a major urban campaign," pointing out that Kuwait does not only support Anbar, but supports all of Iraq and is always concerned with its security and stability, pointing out that since 2003 Kuwait was a supporter of Iraq in various fields and participated in alleviating the suffering of the displaced by building camps and providing them with the necessary equipment, caravan schools and mobile medical clinics.


He pointed out that Kuwait in the donor conference in 2018 had contributions through a $100 million grant, which was allocated to the stricken governorates, including Anbar Governorate, pointing out that there are pledges at the Kuwait Conference that still exist, as one billion dollars were allocated for the rehabilitation of infrastructure, and also one billion dollars for investment. 


The Kuwaiti ambassador added that his country is always present with Iraq, stressing that there are big plans in the future that will be announced soon.


On the compensation file, Al-Zamanan said that "the compensation approved by the United Nations had a deduction to meet it, and a decision will be issued close to the Compensation Committee to close this file permanently. 


And the Iraqi Prime Minister’s Adviser for Economic Affairs, Mazhar Muhammad Salih, had confirmed - last Thursday - that Iraq had ended the Kuwait war compensation file, as it had paid the last payment of dues about less than $ 45 million, indicating that, thus, Iraq had paid all its obligations imposed on it under Chapter VII of the Charter of the United Nations and relevant Security Council resolutions in 1991.

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Soon... the United Nations issues a decision to permanently close the Iraqi compensation file to Kuwait

Soon... the United Nations issues a decision to permanently close the Iraqi compensation file to Kuwait
Kuwaiti Ambassador to Baghdad - Salem Al-Zamanan
 

 

Mubasher: The Kuwaiti ambassador to Baghdad, Salem Al-Zamanan, confirmed today, Saturday, that the Compensation Committee will issue a decision to permanently close the file of financial compensation, indicating that the pledges of the donors’ conference are still valid.

Al-Zamanan said, during his visit to Anbar Governorate, to the Iraqi News Agency (INA): "Since 2003, Kuwait has been a supporter of Iraq in various fields and has participated in alleviating the suffering of the displaced by building camps and providing them with the equipment they need, caravan schools and mobile medical clinics."

He pointed out that "Kuwait at the donors' conference in 2018 had contributions through a $100 million grant, which was allocated to the stricken governorates, including Anbar Governorate," noting that "there are pledges in the Kuwait conference that still exist, as one billion dollars were allocated for the rehabilitation of infrastructure, as well as billion dollar investment.

On the compensation file, Al-Zamanan said, "The compensation approved by the United Nations had a deduction to meet it, and a decision will be issued close to the Compensation Committee to close this file permanently."

And the Prime Minister’s Adviser for Economic Affairs, Mazhar Muhammad Salih, announced in a statement to the Iraqi News Agency (INA), last Thursday, that “Iraq has ended the Kuwait war compensation file, as it paid the last payment of dues about less than 45 million dollars,” noting, that “with this, it paid Iraq has fulfilled all of its obligations imposed on it under Chapter VII of the United Nations Charter and relevant Security Council resolutions in 1991.

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