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Ki-moon is likely to complete compensation Kuwait early 2015

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Ki-moon is likely to complete compensation Kuwait early 2015

2012-07-11

BAGHDAD (Iba) / follow up / ... Expressed the UN Secretary General Ban Ki-moon today expressed satisfaction with the cooperation of Iraq with the United Nations Compensation Baghdad and the continuation of the performance of five per cent of oil revenues to compensate victims of the Iraqi invasion of Kuwait in 1990, the compensation is probable completion early 2015.

Ban said in his semi-annual report which was submitted to the Security Council in this regard was issued today, I would like to express my appreciation to the Government of Iraq, especially the Committee of Financial Experts to its continued commitment to fulfilling its obligations, continued cooperation with the Committee on Compensation.

He added that the total amount of compensation paid by the Commission to now close to 4.36 billion dollars, leaving a total of $ 16 billion to be paid .. It is estimated that this amount will be paid in full by the beginning of 2015.

He noted that since the beginning of the year the Commission made the Iraqi reparations to Kuwait in two waves hit each one billion dollars, where she presented the first installment in January 26 and the second on April 26, is scheduled to be the performance of the next batch of close to 3.1 billion dollars in the 26 this month.

He said the UN Secretary General to Iraq through the Chairman of the Committee of Experts has emphasized the Chairman of the Compensation Committee of the Geneva-based importance attached by the Government of Iraq to ensure the continued respect the decisions of relevant United Nations stating that the Committee has no plans to change the current mechanism to pay 5 per cent proceeds from the sale of Iraqi oil and its products to the Compensation Fund.

He pointed out that the average monthly income from the proceeds of Iraqi oil to the Compensation Commission for the first three months of this year of nearly $ 352 million and income of the month of April amounted to 3.396 million dollars due to the increasing Iraqi oil production.

He concluded by saying that the current rates of income for the Compensation Fund indicate that the Government of Iraq to comply with its obligations under relevant Council resolutions, noting that he will be confirmed as soon as the end of the audit of the Development Fund for Iraq and the subsequent calculation.

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