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Fouad Hussein announces Iraq's exit from Chapter VII


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7 hours ago, screwball said:

there are however articles to suggest that they need a internationally tradeable currency to become a member of the WTO and tons of articles to suggest that they want to return to their former value also tons of articles alSo IMF requirements that state they must remove mulit currency MCP practices this means removing parallel markets as well as auctions....last 2017 IMF requirement said they need to remove all barriers and create fiscal space!!!

Also, we won’t be able to cash in our dinars if they aren’t internationally tradable no matter what their value is. 

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6 minutes ago, Half Crazy Runner said:

Also, we won’t be able to cash in our dinars if they aren’t internationally tradable no matter what their value is. 

Watch me 

I will apply to be a citizen there

me and my camal pepsi 

I will be a proper member of society

 

might have a problem alcohol free times 

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21 minutes ago, Bama Girl said:

This is a good article from the past to remind us of the journey of Iraq’s exit from all 7 UNAMI Resolutions of Chapter VII. The article is from 2013. I was unable to copy & paste so if interested in reading it, you’ll have to go to article. 
 

https://www.kuna.net.kw/ArticleDetails.aspx?id=2316512&language=en

Thanks @Bama Girl! It’s been a loooong road to get here!

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Lady Grace Dadd

What I said as you know is the truth you don't need an article to back it up. Just read the bull shite each week from the articles. Example the Frank 26  is constantly spullling out BS along with a lot of them. Every week saying its RV'd or going to RV this Sunday. You may find it humorist but I think its terrible they allowed to promote this BS on the DV site. I've been around for over 11 years & seen this crap over & over.  Don't put me in a catagory of these so called Guru's. Again this is just my Opinion of course. 

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15 hours ago, ladyGrace'sDaddy said:

I guess you just became a guru also. As your statement without providing supporting evidence suggests. 

 

Nevertheless, your comments are wrong. Over the years there has been tons of verifiable evidence showing the effects of being released from ch 7. And the one of most importance here is the RV. Which Iraq has repeatedly stated themselves would be to bring back value to the Dinar. And the only number ever mentioned by the CBI was $1:17.

 

Nonetheless, being removed from Chapter 7 completely will place the Dinar as tradable on the Forex. Considering the wealth of oil in Iraq alone, will make the Dinar an extremely desirable currency in the Forex. 

 

So YES, "THIS IS HUGE NEWS ". 

And it will inevitably lead to a massive increase in the Value of the Dinar. 

Couldn't agree more :bravo::bravo:

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I never said anything about the Chapter 7. I have been talking about these so called Guru's providing all this nonsense  of saying they have RV'd or will RV at end of week of which has been a lie from the beginning of making this statement constantly. Example Frank 26 stating this bull Shite every week. Yes I feel paying the balance 44 Million  owned is hugh the best news we have read so far. I feel this is the reason they have not increased their value because they were not released in chapter 7 still owing funds. Once they get release by the UN should not be anything prevented them of increase their value. I believe which I mentioned before as Adam Montana had said they will start out small between 3 cents to 10 cents. Once they open this window I believe this will grow overnight and not be able to hold the value down very long, who knows how high it will grow unless the CBI puts a cap on its growth.

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Lady Grace Dadd

I also have not implied any wrong doing of Adam Montana when you comment Adam Montana is the real deal. I have been reading Adam s comments over 11 years as well as Kaperoni and Bond Lady  while she was alive sorry of her death. I have respected all 3 of above people for years. I know most on this site don't like Kaperoni but I still like him as well as Adam Montana. This is my own personal opinion of all 3 of these people. 

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2 hours ago, Adam Montana said:

 

Whether the CBI would put a cap on the growth or not... I am inclined to agree that they will. But there's a strong argument for that cap being $1

I believe a scenario where they come out .10 and allow the Dinar to increase on the open international market is the most likely to occur. And personally, if they put a cap on it, somehow that would be a relief. I could trade at $1 and not get FOMO that it will go up to $3. On the other hand, if it went higher, it might be more fun for all of us. Either way, get it done Iraq!

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One to one is what I was always thinking all along...

Let's get the UN to pass on the Chapter VII in February...and see what happens...

Go RV......Thanks Adam for the Input.....👍

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BAM!
 
Gulf War: The United Nations Committee Announces Payment of Final Reparations to Kuwait
 
January 13, 2022
May be an image of fire and outdoors
peace and security
The United Nations Commission on Compensation for Damage Resulting from Iraq's 1990 invasion of Kuwait announced on Thursday that more than 30 years after Saddam Hussein's invasion of Kuwait, Kuwait has received the latest war reparations from the State of Iraq.
Thus, Baghdad has completed compensation payments and paid more than 629 million dollars for the losses resulting from Iraq's invasion of Kuwait in 1990, and its occupation of it for a period of seven months.
In a statement, the Compensation Committee said: "Today, the United Nations Compensation Committee provided the Government of the State of Kuwait with an amount of $629,324,488 to pay the Committee's remaining claim with an unpaid compensation balance."
With this amount, all claimants who were awarded compensation by the Commission will now have received the full amount of their compensation.
Over the past 30 years, Iraq has paid Kuwait $50 billion in war reparations. However, in light of the financial difficulties due to the pandemic, and the drop in oil prices, Baghdad demanded to postpone the payment of the remaining two billion dollars.
In total, the commission has paid $52.4 billion in damages to more than 1.5 million claimants worldwide. The UN Compensation Commission related to the Gulf War had received about 2.7 million claims and completed its review of all claims in 2005.
An extraordinary session on the occasion of the end of its work
As the commission approaches its conclusion, a special meeting of the Board of Directors will be held on February 9 to celebrate the full payment of all compensation awarded by the commission and the expiration of its mandate.
The successful claims were paid from the UN Compensation Commission Fund, which received a percentage of the proceeds from sales of Iraqi oil and petroleum products exports.
This percentage has been established pursuant to various Security Council resolutions and Governing Council decisions of the Committee and was recently set at 3 per cent by Governing Council decision 276 (2017).
The Commission was established in 1991 as a subsidiary organ of the UN Security Council, in accordance with Security Council Resolutions 687 (1991) and 692 (1991) to process claims and pay compensation for losses and damages incurred by individuals, companies, governments and international organizations as a direct result of Iraq's invasion and occupation of Kuwait (from 2 August / August 1990 to March 2, 1991
 
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1 hour ago, HowieC said:

As the commission approaches its conclusion, a special meeting of the Board of Directors will be held on February 9 to celebrate the full payment of all compensation awarded by the commission and the expiration of its mandate.

Hope this means an effective removal of all sanctions at or before that meeting. I’m all for UN hosting a party, but maybe get the work done first. 

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Iraq's credit rating will rise with the payment of the last dues of Kuwait's compensation
 
Translation / Hamed Ahmed
2022-01-14
 2022-01-13 BY SOTALIRAQ
 
Financial experts point out that Iraq's economic situation is supposed to improve for 2022 and be further strengthened with Baghdad paying the last installments of the financial compensation for the invasion of Kuwait imposed on the country since 1991.
On December 22, the Central Bank of Iraq announced the payment of the full financial compensation amounting to 52.4 billion dollars approved by the United Nations in favor of Kuwait due to its being invaded by Iraq. . Thus, Iraq has completed the payment of the full amount of compensation, a total of 52.4 billion dollars, according to United Nations Resolution No. 687 of 1991.
Mazhar Muhammad Salih, financial advisor to Prime Minister Mustafa Al-Kazemi, told Al-Monitor that the payment of the last installment has boosted Iraq's credit rating, adding, "Accredited international rating agencies have placed Iraq in the B category of the credit rating, and the international financial institution will have a positive view of Iraq's capabilities." Finance.”
Saleh indicated that despite paying the last installment, Iraq still bears deferred debts to international credit institutions, despite the possibility of resolving this issue soon. He stressed, "This debt is owed by approximately 12 countries, including four Gulf countries, and dates back to the pre-1990 era." He said that according to the Paris Club agreement signed between Iraq and international credit institutions, it is assumed that 80% of the value of the debt, or approximately 41 billion dollars, will be deducted, “and then it will be equal to 8-9 billion dollars only as a result of the Iraq-Iran war, and I expect that it will be Turn it off completely.”
The financial advisor adds that "the accumulated funds for these compensations will annually provide approximately $2 billion at least, which in turn will strengthen Iraq's budget and provide a settlement for external debt dues, or provide sums of money that go to productive investment projects."
The economic expert at the secretariat of the former cabinet, Salam Sumaisem, told Al-Monitor, “Settlement of compensation and debts improves the country’s financial capabilities as long as these funds are used for development and investment projects. The next financial abundance should not be wasted, as many opportunities have been wasted over the past years.”
Abbas Abboud, an academic and writer, told Al-Monitor that Iraq's payment of the last installment will reduce the psychological impact on Iraqis and will push toward balanced political relations with the Gulf countries in general and with Kuwait in particular.
As for the political analyst, Qassem Al-Gharawi, from the Iraq Institute for Strategic Studies, he told Al-Monitor that "there are government parties trying to redirect the sums that were earmarked for settling compensation towards establishing sovereign funds for future generations." He pointed out that with that, the sums that were previously allocated to Kuwait's compensation, it is better to use it now in a program to develop sustainable development projects outside the authority of the government.
Manar al-Obaidi, an economic analyst and the official spokesperson for the Emtadad Movement, told Al-Monitor that the settlement “will increase Iraq’s income, especially taking into account that 5% of oil sales were deducted to pay compensation payments.” He pointed out that Iraq's foreign debt has fallen to 20 billion dollars, or approximately 15 percent of the gross domestic product, which is a small percentage compared to other countries. But he stressed that the fact remains that the growth in infrastructure and services facilities is still low.
Analyst and economic expert, Hussein Saqib, said that the previous compensation funds could be used to support small and medium investment projects, provided that these projects are subject to monitoring and evaluation. Saqib believes that fiscal policy needs reforms and clarity as far as performance is concerned. Economic experts and global advisory bodies should help formulate financial policies, noting that there is a need to amend and reform the budget law so that public revenues can support economic development.
It is noteworthy that most of Iraq's debts resulted from the uncalculated military adventures of the former regime. Paying the final installment to Kuwait may lead to financial abundance, if the economic decision-making process is reformed away from the routine administrative mentality.
صوت العراق | تصنيف العراق الائتماني سيرتفع مع تسديد آخر مستحقات تعويضات الكويت
SOTALIRAQ.COM
صوت العراق | تصنيف العراق الائتماني سيرتفع مع تسديد آخر مستحقات تعويضات الكويت
Posted on 2022-01-13 by sotaliraq تصنيف العراق الائتماني سيرتفع مع تسديد آخر مستحقات تعويضات الكويت ترجمة / حامد أحمد يشير خبراء ماليون الى انه من المفترض ان يتحسن وضع العراق الاقت...
 
 
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