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The extension of the Development Fund for Iraq for another year

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The extension of the Development Fund for Iraq for another year


The UN Security Council in late 2009, particularly in the atheist and the twentieth of last December, its resolution No. 1905, that provides for the extension of the arrangements for the Development Fund for Iraq for another year. This Fund was established under an earlier decision issued by the UN Security Council in May 2003. Under that resolution, the deposit of the proceeds of Iraqi oil in the Development Fund for Iraq.


The recent UN Security Council decided to review articles related to this fund in the fifteenth of next June at the request of the Iraqi government
invited the Council to Muatadth report on the progress made in preparation for an end to form the Development Fund for Iraq at the end of the year.


Indeed, Iraq has prepared a plan of action submitted to the UN Security Council Chairman of the Committee of Financial Experts in Iraq, Abdel Basit Turki Saeed, as stressed by the Legal Adviser to the Prime Minister Mohamed Fadhil Jawad in an exclusive interview with Radio Free Iraq.



Measures include the Iraqi government and the way to the end of a deposit of oil revenue and other financial assets in the Development Fund for Iraq, the settlement of all claims and financial claims inherited from the former regime, including its debt to Kuwait and others where you go to 5 percent of oil revenues to meet these obligations. In this regard Counsel explained Fadel Mohammed Jawad, said the government plan of action submitted to the UN Security Council has proposed exempting Iraq from the debt or to surrender a large percentage of them as did the Paris Club countries.


Accompanied by directions Iraqi government to get out of the formula the Development Fund for Iraq, warnings that such a step will be followed by a barrage of claims that may threaten the financial assets of the country.


This is what drew him also a professor of public international law and international relations at the University of Mustansiriya Morteza Osama calling for the extension of the protection provided by the United States and the international community to Iraq's assets in the current version.


But the legal adviser to the Prime Minister Mohamed Fadhil Jawad said in his interview with Radio Free Iraq that the plan of action submitted by the government to the UN Security Council to take these cases into account.


The Chancellor Mohammed Jawad expressed the hope that this file is closed at the end of this year based on the conviction of the UN Security Council seriously Iraqi actions.



Radio Free Iraq, met with a financial expert at the Ministry of Finance Crescent miller, who said Iraq and the heirs of the former regime's debts of 140 billion dollars was able to fire more than 100 billion so far and the remaining debt to various countries including Saudi Arabia, by more than 9 billion dollars and Kuwait for 6 billion dollars in While the United Arab Emirates waived for all debts of 4 billion dollars.



Miller said that Iraq also paid compensation to the majority of the affected States invasion of Kuwait, referring to the proposal of Prime Minister Nuri al-Maliki reduce the percentage to be deducted from the proceeds of oil for such compensation or converted into investments.



States have been the so-called Paris Club waived eighty percent of the debts on Iraq with other countries decided to relieve him of all debts. Asks citizens and even the observers as to why the absence of such initiatives by the Arab countries still have debts on Iraq.


Radio Free Iraq met analyst Bassem Jamil Antoine, who stressed that the ties that link Iraq to the Arab countries are stronger than countries linked by the Paris Club and that the Iraqis will not forget the position that dealt with him in terms of understanding and taking into account the situation.


UN Secretary-General Ban Ki-moon said in his quarterly report to the Security Council in the first of April that the plan of action submitted by the Iraqi government to stop the filing of oil revenues and Iraqi funds in other Development Fund for Iraq are still required to do more to transition to other arrangements alternative to the Fund .


Other details in the audio file and contributed to the preparation colleague Khaled Waleed, who met with officials and financial experts.
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