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Paris Club ~ Iraq Settling Debts? Iraq Higher Committee to Pay Dues: local private sector, foreign and Int'l organizations
*** IMF and World Bank
Iraqi government spokesman Ali al-Dabbagh
Thursday. December 1, 2011
Baghdad, Council of Ministers form a committee to pay the dues of the local private sector and foreign
Iraq's cabinet decided on Thursday to form a higher committee to audit and pay the dues of the private sector of local and foreign and international organizations, while stressing that the Committee on Economic Affairs recommended to place the debt of the private sector foreign to the Paris Club agreement, promised to refer the claims in debts, which proves to be incorrect to justice.
He said Iraqi government spokesman Ali al-Dabbagh said in a statement issued today, and received "Sumerian News" copy, "The Council of Ministers decided to approve the adoption of the recommendation of the Committee on Economic Affairs on the entitlements of individuals and private companies of national and foreign and international organizations."
Dabbagh said that "the approval will take into account the opinion of the Legal Department of the Secretariat of the Council of Ministers on the debt of the national private sector except for the membership of the Inspector General as illegal and that authorize the Commission to form a higher committee for scrutiny and payment of those dues, whether more than ten million dinars or less and be spent out amount without interest.
Ali al-Dabbagh that "this approval comes the interest of the Iraqi government to apply regulations and international obligations, including obligations of the Paris Club International on the debt and to meet international obligations through the payment of debts owed by Iraq to give credibility in the economic relations between Iraq and the countries of the world," noting that "the affairs committee economic recommended subjecting foreign private-sector debt to the Paris Club agreement in line with the orientations of the Iraqi government not to differentiate among creditors.
Dabbagh said that "the claims prove to be incorrect will be announced and referred to the judiciary," pointing out that "the Supreme Committee for the liquidation of dues of the Iraqi private sector will develop a mechanism for scientific exchange and determine the conditions necessary to ensure the validity of the debt and follow-up of the launch of exchange."
Iraq had managed to write off $ 100 billion of Paris Club debt of $ 140 billion dollars, after he signed individually with some of these countries towards the Convention on Iraq debt reduction and 80% of them, as happened with the others to write off 100% of the debt.
Iraq seeks to cancel the debts incurred during the period of the previous regime and the estimated time of more than $ 120 billion, which date back to some compensation because of wars waged by his neighbors and some other countries and traders.
The Paris Economic Club is an informal group of financiers from 19 countries of the world's richest countries, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, United Kingdom, which provides financial services such as debt rescheduling and relief, and cancel the debtor and creditor countries.
Paris Club ~ Iraq Settling Debts? Iraq Higher Committee to Pay Dues: local private sector, foreign and Int'l organizations
*** IMF and World Bank
Iraqi government spokesman Ali al-Dabbagh
Thursday. December 1, 2011
Baghdad, Council of Ministers form a committee to pay the dues of the local private sector and foreign
Iraq's cabinet decided on Thursday to form a higher committee to audit and pay the dues of the private sector of local and foreign and international organizations, while stressing that the Committee on Economic Affairs recommended to place the debt of the private sector foreign to the Paris Club agreement, promised to refer the claims in debts, which proves to be incorrect to justice.
He said Iraqi government spokesman Ali al-Dabbagh said in a statement issued today, and received "Sumerian News" copy, "The Council of Ministers decided to approve the adoption of the recommendation of the Committee on Economic Affairs on the entitlements of individuals and private companies of national and foreign and international organizations."
Dabbagh said that "the approval will take into account the opinion of the Legal Department of the Secretariat of the Council of Ministers on the debt of the national private sector except for the membership of the Inspector General as illegal and that authorize the Commission to form a higher committee for scrutiny and payment of those dues, whether more than ten million dinars or less and be spent out amount without interest.
Ali al-Dabbagh that "this approval comes the interest of the Iraqi government to apply regulations and international obligations, including obligations of the Paris Club International on the debt and to meet international obligations through the payment of debts owed by Iraq to give credibility in the economic relations between Iraq and the countries of the world," noting that "the affairs committee economic recommended subjecting foreign private-sector debt to the Paris Club agreement in line with the orientations of the Iraqi government not to differentiate among creditors.
Dabbagh said that "the claims prove to be incorrect will be announced and referred to the judiciary," pointing out that "the Supreme Committee for the liquidation of dues of the Iraqi private sector will develop a mechanism for scientific exchange and determine the conditions necessary to ensure the validity of the debt and follow-up of the launch of exchange."
Iraq had managed to write off $ 100 billion of Paris Club debt of $ 140 billion dollars, after he signed individually with some of these countries towards the Convention on Iraq debt reduction and 80% of them, as happened with the others to write off 100% of the debt.
Iraq seeks to cancel the debts incurred during the period of the previous regime and the estimated time of more than $ 120 billion, which date back to some compensation because of wars waged by his neighbors and some other countries and traders.
The Paris Economic Club is an informal group of financiers from 19 countries of the world's richest countries, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, United Kingdom, which provides financial services such as debt rescheduling and relief, and cancel the debtor and creditor countries.