Washington is trying to persuade the Gulf .. extinguish Iraq's debts versus distance from Iran.

Washington is trying to persuade the Gulf .. extinguish Iraq's debts versus distance from Iran.



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21-04-2014 11:12 PM
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U.S. sources said that the United States is making diplomatic efforts to persuade the Gulf Cooperation Council to exempt the debts on Iraq in return for the strengthening of relations between Iraq and the Gulf, to remove Iraq from Iran.

He estimated the Institute of Strategic Studies and Foreign Affairs in the U.S. study released on Monday, the debt of the GCC on Iraq at about 40 billion dollars.

These Iraqi debt that resulted from Iraq during the rule of former President Saddam Hussein, returning each of the Kingdom of Saudi Arabia, Qatar, Kuwait and the United Arab Emirates.

The proportions of the Institute of American Studies to the CBI saying that the exemption of these debt negotiations are still underway with the countries of the Gulf Cooperation Council.

According to estimates of the Iraqi Central Bank, the total of Iraqi debt, amounting until October last about 87.7 billion dollars, of which 45 billion dollars belonging to creditors in the Paris Club and are subject to the exemption, and 40 billion dollars to the Gulf states. Among these debts of $ 850 million belonging to Poland.

It is noteworthy that Iraq's debt to the Paris Club of belonging to 19 countries, including the United States, which exempted about 80% of the debts on Iraq during the past years. Subject of debt of $ 45 billion to the terms of the Paris Club rescheduling the special exemption.

The Iraqi government was formed at the beginning of this year, a committee to address public debt, which fell from Iraqi amounts ranging between 130-140 billion dollars in 2002 to 92 billion dollars in 2010 and then to 87.7 billion dollars by the end of last year.

In addition to this there is a compensation debt owed by Iraq to Kuwait, which is currently estimated at about 18 billion dollars.

The Iraqi government has used 5% of the oil income to pay compensation Kuwait.

According to the Institute of Strategic Studies: The debt does not pose a problem for Iraq at the present time because it can be covered easily, but the main problem in Iraq, is the corruption and political turmoil and lack of transparency in the accounts of income and expenditure.

He said in this regard: that Iraq's vast oil can with its resources to achieve continuous surpluses in the budget, being able to cover these debts, and re-establish the structures of the country.

The institute said that Iraq has managed over the past year from the export of about three million barrels on average, and the average price reached $ 100 per barrel. Pointing in this direction that Iraq can raise its production during the current year to more than that.

It is noteworthy that Iraq was currently producing 3.4 million barrels a day and aims to produce 4 million barrels per day by the end of this year following the launch of an oil field reserves reach 14 billion barrels.

Institute noted that Iraqi oil revenue last year amounted to about 89.22 billion in 2013 dollars.

In spite of that income was down from previous estimates, which put him 94.02 billion dollars, but he has achieved a budget surplus of more than six billion dollars.

He noted in this regard that the increased income from Iraqi oil contributed financially to reduce its dependence on the United States and Iran.

But the study Institute references to it in spite of the significant improvement in income from Iraqi oil, it is difficult to know, where to go because of the money rampant corruption amid members of the Iraqi government and the total lack of transparency in spending.

It is noteworthy that the Iraqi oil reserves estimated at 141 billion barrels, and Iraq as well as the precautions rich gas is associated with oil.

A group of oil companies led by Russia's Lukoil began pumping oil from Qurna 2 field, located in the West Qurna at the end of March / March.

The minister announced, Abdul Karim and coffee, at the opening ceremony, to begin production by about 120 thousand barrels per day, to be up to 400 thousand barrels by the end of this year.

Since 2003, Iraq awarded deals to develop oil and gas fields of the crumbling international energy companies. And that the fall of Saddam Hussein's regime, raising the international embargo on Iraq.

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Official: Iraqi funds in the United States will not go to creditors after the lifting of immunity





April 22, 2014 10:51 Last Updated: April 22, 2014 10:51
















Said committee member Abdul Hussein al-Yasiri told / JD / economic: that there is a settlement agreement with the United States was approved by Parliament in 2011, to ensure Iraq after the UN mandate continued U.S. protection to Iraqi funds in the Development Fund for Iraq. Ruled Yasiri what was said about these the money will go to creditors after the lifting of immunity, asserting that U.S. President Barack Obama issued a decision to the protection of Iraq's reserves in all banks in the world and of the Central Bank of Iraq. has been approved by the House of Representatives in 2011 on the Convention on the Settlement of claims for the protection of Iraqi assets deposited in the Development Fund for Iraq (DFI) from lawsuits compensation in U.S. courts. according to news agency dinars on the other hand assured the Parliamentary Finance Committee wary of raising U.S. protection for Iraqi funds deposited in the Development Fund for Iraq, while confirming that there is a settlement agreement approved by Parliament in 2011 to ensure the protection of those funds after the lifting of immunity. mentioned that Minister of Finance Agency purity of net debt and the presence of the governor of the Iraqi Central Bank Search in building the Iraqi Embassy United States of America in Washington, with the legal adviser to the Ministry of Finance of the Foundation Cleary Kutlb development of procedures that will protect Iraqi funds abroad and to be implemented by the Iraqi government after the end of the period of immunity in 22 / 5/2014. was Net has ruled out extension of the international protection of Iraqi funds abroad, estimated at 180 billion dollars. , and pointed out that Iraq has the means capable of providing the necessary protection for his money and that the government is seeking to settle the entire debt obligations, according to the agreements signed in the Paris Club. The net debt that Iraq ended three and forty state while negotiations are under way to repay the debt to the rest of the eight countries only. /


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