Chapter 7 - Important Dates ~ Events that are causing Iraq to remain under Chapter 7:

[Muhammad]

Wednesday, February 17, 2010

Chapter 7 - Important Dates ~ Events that are causing Iraq to remain under Chapter 7:

Dates to keep in mind relating to Chapter 7:

April 1, 2010, June 15, 2010, December 31, 2010

1. By April 1, 2010. The Council called on the Government of Iraq to ensure the timely and effective transition to a post-Development Fund mechanism by 31 December 2010 and to put in place the necessary action plan and timeline thereto by 1 April next year (2010). The Council further requested the Government, through the head of the Council of Financial Experts (COFE) to report quarterly to the Council on progress made.

2. No later than 15 June 2010. Unanimously adopting resolution 1905 (2009) and acting under Chapter VII of the United Nations Charter, the Council decided that the mechanism of the Development Fund and the International Advisory and Monitoring Board as well as other relevant provisions of resolution 1483 (2003) would be reviewed at the request of Iraq’s Government, or no later than 15 June 2010.

3. December 31, 2010 - Security Council Extends Until 31 December 2010 Arrangements for Depositing Proceeds from Oil, Gas Sales into Development Fund for IraqAdopting Resolution 1905(2009) Unanimously, Council Also RequestsIraq ’s Government to Transition to Post-Fund Mechanism by End of 2010

Events that are causing Iraq to remain under Chapter 7:

1. Money ~ Iraq owes Kuwait US$16 billion (Dh58.8bn) from loans that were mostly made during the 1980s when Saddam Hussein’s regime was fighting a war with Iran. The Iraqi government owes an additional $25bn in war reparations to Kuwait as a result of the 1990 invasion.Sheikh Mohammed said he was referring only to the money owed to Kuwait through loans, and not compensation, which he said has its own “international mechanism”.The UN Compensation Commission oversees payments to individuals, companies, non-governmental organisations and governments that suffered in the invasion. Five per cent of the country’s oil sales are used as compensation, and Iraq must resolve the reparations issue before it can be relieved of the UN’s remaining sanctions.

2. Border Issues ~ Mr Ali said Kuwait, Iraq and the UN all agreed to the demarcation of the border between the two countries after the Iraq war, but some Iraqi nationalists still do not accept the deal. Some Iraqi MPs have questioned the validity of the border, and others have demanded that Kuwait pay Iraq compensation for giving the US-led coalition a base from which to stage the 2003 invasion, which they said was illegal under international law.

3. Returning the Remains and Documents from 1990 war ~ The Foreign Ministry called on Monday for people to turn their possession of "documents and Kuwaiti property," were seized during the former regime during its invasion of Kuwait in 1990. He said Iraqi Foreign Minister Hoshyar Zebari said on Wednesday, said his country returned the remains of 300 Kuwaiti nationals, and a large part of the archive, according to the UN Security Council resolution,

"But there is still much to return," saying that "Iraq is required under the provisions of Chapter VII of the return of all property and documents, which gesture to the Kuwaiti confirm that we are interested and serious about this subject. "

Links ~

*** New Mechanism to Guarantee Protecting Iraqi Money

Kuwait needs security, not money from Iraq: Minister

Iraq Kuwait to return to the remains of 300 people and a large portion of the documents

IRAQ - SECURITY COUNCIL EXTENDS DEVELOPMENT FUND FOR ONE MORE YEAR (IT'S A GOOD THING) ...

Iraq predicts "package deal" will be reached with Kuwait after elections

Posted by Kel at 2/17/2010 11:50:00 AM

Labels: Iraq and Kuwait Chapter 7 Dates...

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New mechanism to guarantee protecting Iraqi money

January 19, 2010

BAGHDAD / Aswat al-Iraq: The Council of Ministers decided on Tuesday to form a ministerial committee to have a mechanism to guarantee protecting the Iraqi money after the end of the development of Iraq fund’s guardianship by the end of 2010.

“The council decided to form a committee under deputy premier, which will include also foreign, finance, planning, oil and justice ministers as well as the governor of the central bank to guarantee the protection of the Iraqi money after the end of the development of Iraq fund’s guardianship in 2010,” said the statement released by the office of Spokesman Ali al-Dabbagh received by Aswat al-Iraq news agency.

“The committee should complete its works in 30 days and to provide its recommendations to the cabinet,” it added.

related article ~

IRAQ - SECURITY COUNCIL EXTENDS DEVELOPMENT FUND FOR ONE MORE YEAR (IT'S A GOOD THING) ...

Snip~

“Acting under Chapter VII of the Charter of the United Nations"

1. Decides to provide an extension, until 31 December 2010, on the arrangements established in paragraph 20 of resolution 1483 (2003) for the depositing into the Development Fund for Iraq of proceeds from export sales of petroleum, petroleum products and natural gas and the arrangements referred to in paragraph 12 of resolution 1483 (2003) and paragraph 24 of resolution 1546 (2004) for the monitoring of the Development Fund for Iraq by the International Advisory and Monitoring Board and further decides that, subject to the exception provided for in paragraph 27 of resolution 1546 (2004), the provisions of paragraph 22 of resolution 1483 (2003) shall continue to apply until that date, including with respect to funds and financial assets and economic resources described in paragraph 23 of that resolution;

"2. Decides further that the provisions in the above paragraph for the deposit of proceeds into the Development Fund for Iraq and for the role of the International Advisory and Monitoring Board and the provisions of paragraph 22 of resolution 1483 (2003) shall be reviewed at the request of the Government of Iraq or no later than 15 June 2010;

“3. Requests the Secretary-General to provide written reports to the Council on a quarterly basis, with the first report no later than 1 April 2010, to include details on progress made in strengthening financial and administrative oversight of the current Development Fund for Iraq, as well as the legal issues and options to be considered to implement successor arrangements and an assessment of the Government of Iraq’s progress in preparing for the successor arrangements for the Development Fund;

“4. Calls upon the Government of Iraq to put in place the necessary action plan and timeline by 1 April 2010 and to ensure the timely and effective transition to a post-Development Fund mechanism by 31 December 2010, which takes into account IMF Stand-By Arrangement requirements and includes external auditing arrangements and enables Iraq to meet its obligations as established in the provisions of paragraph 21 of resolution 1483 (2003);

“5. Requests the Government of Iraq through the head of the Committee of Financial Experts (COFE) to report to the Security Council on a quarterly basis, with the first report no later than 1 April 2010 to provide an action plan and timeline for the transition from the Development Fund and details on the progress made in strengthening financial and administrative oversight of the current Development Fund for Iraq, with subsequent quarterly reports to provide an assessment of progress against the action plan and oversight improvements;

“6. Decides to remain actively seized of the matter.”

IRAQ - SECURITY COUNCIL EXTENDS DEVELOPMENT FUND FOR ONE MORE YEAR (IT'S A GOOD THING) ...

Posted by Kel at 1/19/2010 08:53:00 PM

Labels: Iraq development fund 2010 Protects Iraq's Money

There is a high possibility for the the United Nations Development Group (UNDG) to persuade Iraq to strengthen its financial situation in due course which might be related to an RV plan and more after March 2010 has ended, perhaps. IMO.

The link for IRFFI - UNDG Iraq Trust Fund Main page:

www.irffi.org/.../0,,contentMDK:20289273~menuPK:571784~pagePK:64168627~piPK:64167475~theSitePK:491458,00.html

The link for GOING GLOBAL - EAST MEETS WEST - ARTICLES OF INTEREST:

www.articlesofinterest-kelley.blogspot.com/.../central-bank-of-iraq-is-plan-stratjip.html -

If the links don't work at all, please google search by typing out those underlined words.

[Muhammad]

Okay, I have to go home to rest for the preparation of my Friday's Prayer tomorrow and I would pray for all to meet our windfall soon, if not sooner. Amin or Amen! No matter what happens, the show must go on!

[krucialmix]

Hmm...this is too long for me to read now at work, but there is something I took from this article. RV 2011. :-(

[wilecoyote]

Hmm...this is too long for me to read now at work, but there is something I took from this article. RV 2011. :-(

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[valu]

unsc certainly brings the action plan into the commentary more than once indicating it's importance to me. take action already iraq

[Muhammad]

Are you sure we will receive our windfall by next week? I simply hope so but that were some tongues without the nerves who talked without senses! I have placed two links to prove it but where are your links to prove yours?

[crogers77758@gmail.com]

Any thing is a possibility.Tomarow next week, next year.There is one thing that comes to mind it will happen when they are done sorting threw all the the damage from the war.