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Russell M

Iraq Paying Down more Debt

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Iraqi Reparations Moving Rapidly

Posted on 01 August 2011. Tags: Kuwait, Oil

The UN has approved the release of another US$1bn from the reparations fund that compensates Kuwaiti businesses, government bodies and international organisations for losses due to Iraq’s invasion of Kuwait in 1990.

Iraq has now repaid more than $33bn of its $52bn due in damages claims. The $1bn comes from a 5% cut of Iraqi oil sale revenue that goes to a UN-controlled fund. From 1994 to 2003, the amount taken was 25%.

Five companies and four other bodies will receive the compensation. As usual, the UN has not named the claimants receiving compensation.

(Sources: UN; Iraq Directory; Voice of America)

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Iraqi Reparations Moving Rapidly

Posted on 01 August 2011. Tags: Kuwait, Oil

The UN has approved the release of another US$1bn from the reparations fund that compensates Kuwaiti businesses, government bodies and international organisations for losses due to Iraq’s invasion of Kuwait in 1990.

Iraq has now repaid more than $33bn of its $52bn due in damages claims. The $1bn comes from a 5% cut of Iraqi oil sale revenue that goes to a UN-controlled fund. From 1994 to 2003, the amount taken was 25%.

Five companies and four other bodies will receive the compensation. As usual, the UN has not named the claimants receiving compensation.

(Sources: UN; Iraq Directory; Voice of America)

It would be good news if that was not the same amount listed about two weeks ago. They sure do like rehashing the same information over and over.

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Or maybe we should learn to get links to these darn statements. Sigh...pump pump pump.

All this pumping, and no happy ending.....yet!

Debunker out.

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The US should learn from the news article title....

I agree but it would go against everything our current President believes in! He has no idea how to raise the job market and boost the economy without spending more money! And the worst part is, he knows it's not working! So instead of trying something that has been proven to work (capitalism) over and over again, he keeps trying the same thing over and over again and each time he hopes for a different outcome other than failure! :blink:

If that is not a good definition of insanity then I don't know what is!!!

Peace

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