Financial control: the protection provided by third parties of Iraqi funds were not up to the immunity of the Security Council
Citizen / Mustafa Al Hashimi
Iraq demanded the UN Security Council to extend the immunity of Iraqi funds under resolution 1483 issued in 2003.
The head of the Office of Financial Supervision, Abdel Basset Turki, during a public meeting of the Security Council to discuss the arrangements for Iraq's post-Development Fund for Iraq
The follow-up committee of financial experts with the concerned government authorities, international consultants have shown that the protection provided by third parties of the Iraqi funds were not up to the level of immunity granted by the Security Council resolution and pointed out Turkey to Iraq's desire to resolve the issue of external debt inherited from the former regime with non-members of the Club Paris and the States that have rejected calls for Iraq to settle its debt earlier, and called on the GCC countries to help Iraq in the liquidation of debts discharged in their favor in the meantime, he noted, Iraq's ambassador to the United Nations in New York, Hamid al-Bayati told a news briefing earlier that Iraq will need to protect the United Nations for his money in the event of not being able to solve the problem of debt with the creditor countries and companies.
The Secretary-General of the United Nations Ban Ki-moon has announced that the Development Fund for Iraq will remain in the U.S. Federal Reserve Board in New York until after the end of the year.
Ban said in the second quarterly report for the current year to the Security Council that the Government of Iraq has received assurances from the Fed to follow the mechanism and arrangements currently in place to manage the fund, including the allocation of five per cent of oil revenues to the Compensation Fund.
Citizen / Mustafa Al Hashimi
Iraq demanded the UN Security Council to extend the immunity of Iraqi funds under resolution 1483 issued in 2003.
The head of the Office of Financial Supervision, Abdel Basset Turki, during a public meeting of the Security Council to discuss the arrangements for Iraq's post-Development Fund for Iraq
The follow-up committee of financial experts with the concerned government authorities, international consultants have shown that the protection provided by third parties of the Iraqi funds were not up to the level of immunity granted by the Security Council resolution and pointed out Turkey to Iraq's desire to resolve the issue of external debt inherited from the former regime with non-members of the Club Paris and the States that have rejected calls for Iraq to settle its debt earlier, and called on the GCC countries to help Iraq in the liquidation of debts discharged in their favor in the meantime, he noted, Iraq's ambassador to the United Nations in New York, Hamid al-Bayati told a news briefing earlier that Iraq will need to protect the United Nations for his money in the event of not being able to solve the problem of debt with the creditor countries and companies.
The Secretary-General of the United Nations Ban Ki-moon has announced that the Development Fund for Iraq will remain in the U.S. Federal Reserve Board in New York until after the end of the year.
Ban said in the second quarterly report for the current year to the Security Council that the Government of Iraq has received assurances from the Fed to follow the mechanism and arrangements currently in place to manage the fund, including the allocation of five per cent of oil revenues to the Compensation Fund.