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Iraq turns Lebanon's debt into Paris Club

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rocky
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Iraq turns Lebanon's debt into Paris Club

Post by rocky on Thu 09 Aug 2018, 3:17 am

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Iraq turns Lebanon's debt into Paris Club


The government of Lebanon has announced that it has received two books from the Iraqi government, one of which includes the conversion of the previous debt from the pre-2003 period to the Paris Club.
The Lebanese Minister of Combating Corruption, Nicola Tueni, said that he received official letters from the Iraqi government in his official capacity to follow the Lebanese debt issue in Iraq. The first of these authorities expresses their commitment to the contractual terms that were signed with the Lebanese merchants between 2003 and 2008, They are putting the previous debt that goes back to 2003 in another field. "
He added that "the Iraqi government will apply to the debts of the last applied to the creditor countries for this period through the return to the Paris Club, adding that" the second book was a report from the Iraqi authorities for payment of a payment of deposits with the Lebanese Central Bank of Iraq Branch Erbil "He said.
Between 1990 and 2008, $ 953 million of the debts owed to Lebanese institutions and individuals were accumulated in Iraq (excluding interest). During this period, events took place in Iraq from the US embargo to the oil-for-food program and the US invasion of Iraq. These years.
In 2011, the Lebanese banks decided to open branches in Erbil and had to apply the Iraqi regime, which provides for depositing with the Iraqi Central Bank the branch of Erbil, 10% of the expected assets as collateral for the expected deposits in these branches, While seized the branch of the Central Bank of Iraq in Erbil, the amount of $ 83 million returned to the Lebanese banks.

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rocky
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Lebanon confirms receipt of two official letters from Iraq on debt

Post by rocky on Thu 09 Aug 2018, 3:25 am

Lebanon confirms receipt of two official letters from Iraq on debt
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The Lebanese newspaper Al-Akhbar reported on Thursday that the Lebanese Minister of Combating Corruption, Nicola Tueni, in his official capacity to follow the Lebanese debt file in Iraq, received two books from Iraq. The first, in which Iraq expresses its commitment to the contractual terms that occurred with the Lebanese traders between 2003 and 2008, but they put the previous debt dating back to 2003 in another field, Tueni said that the Iraqi state will apply to the debt of the last applied to the creditor countries for this period By going back to the Paris Club. The second book was a report from Iraq on payment of a payment of deposits of the Lebanese banks with the Central Bank of Iraq Branch of Erbil.
Tueni describes the Iraqi correspondence as "positive." As for the debts of the traders, Al-Tuwaini asserts that the Iraqi authorities have been informed. "We told them that we are in agreement with the post-2003 debt, but we do not agree with the previous debts, especially since we have a legal study from Judge Maysam Al- Applies to states, and does not apply to institutions and individuals who have contracted with the Iraqi state ». With regard to the bank file, he expressed his satisfaction, hoping to close all outstanding issues between the two sides. Between 1990 and 2008, $ 953 million of debt owed to Lebanese institutions and individuals was accumulated in the Iraqi State (excluding interest). During this period, events took place in Iraq, from the American blockade to the oil-for-food program, then the US invasion of Iraq and the ongoing political struggle for power. The file remained stuck all these years. In 2011, Lebanese banks decided to open branches in Erbil and had to apply the Iraqi regime, which provides for depositing with the Central Bank of Iraq, Erbil branch, 10% of the expected assets as collateral for the deposits expected to be collected in these branches. The banks did not open any branch, while seized the branch of the Central Bank of Iraq in Erbil, the amount of $ 83 million returned to the Lebanese banks.
 

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Baghdad economy supplies Beirut with two books on Lebanese debt

Post by rocky on Thu 09 Aug 2018, 6:23 am

[size=32]
Baghdad economy supplies Beirut with two books on Lebanese debt[/size]
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Between 1990 and 2008, accumulated $ 953 million of debt owed to Lebanese institutions and individuals in the Iraqi state (excluding interest). During this period, events took place in Iraq, from the American blockade to the oil-for-food program, then the US invasion of Iraq and the ongoing political struggle for power. The file remained stuck all these years. In 2011, Lebanese banks decided to open branches in Erbil and had to apply the Iraqi regime, which provides for depositing with the Central Bank of Iraq, Erbil branch, 10% of the expected assets as collateral for the deposits expected to be collected in these branches. The banks did not open any branch, while seized the branch of the Central Bank of Iraq in Erbil, the amount of $ 83 million returned to the Lebanese banks.
The information pointed out that part of this problem reached a solution, explaining that the Minister of Combating Corruption in Lebanon Nicola Tueni received as official official to follow up the file of Lebanese debt in Iraq, two books from the Iraqi authorities. The first, in which these authorities express their commitment to the contractual terms that were signed with the Lebanese traders between 2003 and 2008, but they put the previous debt dating back to 2003 in another field, Tueni said that the Iraqi state will apply to the debts of the latter applied to the creditor countries for these Period through the return to the Paris Club. The second book was a notification from the Iraqi authorities for payment of a deposit of Lebanese banks with the Central Bank of Iraq branch of Erbil.



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Re: Iraq turns Lebanon's debt into Paris Club

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    Current date/time is Sun 21 Oct 2018, 12:56 am