Central Bank of Iraq in Connection With Activation of Monetary Agreements With Neighboring Countries

Central Bank of Iraq in Connection With Activation of Monetary Agreements With Neighboring Countries
May 31,2011

Baghdad, The Central Bank of Iraq adviser said that the Bank is working to activate the regional monetary agreements with neighboring countries to contribute to the development of the economic reality in the country.
 
He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the CBI in connection with activation of regional agreements with neighboring countries in the meetings of the Arab Monetary Fund annual”, pointing out that “Iraq is an active member of the Fund to expand the monetary policy for Iraq.”
 
He added that “the Iraqi Central Bank seeks to coordinate financial and monetary transactions with neighboring countries that would foster the economic reality in the country.”
 
He explained that the “cash transactions regional part of the movements of the Iraqi Central Bank International in supporting the Iraqi economy and address the major problems facing it through the next stage, most notably trade creditors file the Iraqis.”
 
The central bank last March that Iraq follow the high-level political economic repayment of the debt they did not face legal problems.
 
In February the bank announced last payment of the debt of Iraq 3 thousand and 500 commercial creditor the value of two billion and $ 700 million.
 

In February the bank announced last payment of the debt of Iraq 3
thousand and 500 commercial creditor the value of two billion and $ 700
million.

OK which article is RIGHT? THIS one saying last payment is done at a grand total over 2 billion??

OR the other articles saying they still have a HUGE commercial debt and are afraid of getting sued???

As always iraq articles adds to the confusion!!

The commercial creditors that have been paid are the claims that were filed with the UN Security Council compensation committee over the last several years. The commercial claims that Iraq is now concerned with are either 1) creditors who refused to accept the settlement offered by the UN SC compensation committee or 2) did not file with the UN. This all started with the Kuwait Airways lawsuit which has such huge legal consequences. They have been successful in filing a lawsuit despite what the UN has done. Iraq is afraid that once the immunity has been completely lifted they are going to be hit with more lawsuits. They have no idea how many claims are going to start coming "out of the woodwork".