Security Council Statement on Development Fund for Iraq

Security Council Statement on Development Fund for Iraq

3 July 2011

The following Security Council press statement was issued today by Council President Alfred Moungara Moussotsi (Gabon):

The members of the Security Council welcomed the Government of Iraq’s assumption of full autonomy over the proceeds of the Development Fund for Iraq as of 1 July 2011.

The members of the Security Council welcomed the Government of Iraq’s establishment of a successor arrangement for the transition of the Development Fund for Iraq, consistent with resolution 1956 (2010).

The members of the Security Council noted that, in this regard, oversight of the full proceeds from the Development Fund for Iraq has been transferred from the International Advisory and Monitoring Board to the Government of Iraq’s Committee of Financial Experts, which will exercise authority, in accordance with its terms of reference approved by Iraq’s Council of Ministers.

The members of the Security Council reiterated their welcome of the ongoing efforts and commitment by the Government of Iraq to ensure that oil revenue is used in the interests of the Iraqi people, and to ensure that transition arrangements remain consistent with the Constitution and with international best practices in respect of transparency, accountability and integrity.

The members of the Security Council underscored the importance of Iraq’s continued compliance with relevant resolutions, including paragraph 21 of resolution 1483 (2003) and resolution 1956 (2010).

http://www.iewy.com/29529-security-council-statement-on-development-fund-for-iraq.html

Financial Control Department announces receipt of a Development Fund for Iraq officially

04/07/2011

Announced the Board of Supreme Audit file recognizes the Development Fund for Iraq officially And the end of eight years of international supervision of the Fund.

A statement by the Office of the Committee of Financial Experts Iraqis took over the file during the last meeting of the Council of the International Advisory and Monitoring Board on the Development Fund for Iraq in the Jordanian capital of Amman on the thirtieth of June last .

The statement added that the meeting was an invitation from the Iraqi side, where the Commission will oversee the financial experts, the Iraqis after this date the account is the alternative to the Development Fund for Iraq, which contains all the export earnings of oil and its derivatives.


this is saying COFE....as in UNAMI went bye bye........

UNAMI is still in effect. COFE was set up several years ago to take over the responsibility for the DFI. There has been a slow transition in responsibilities from the IAMB to COFE.

My bad...got UNAMI and IAMB flip flopped again........rats!