Iraq has taken action to protect his money after the lifting of immunity by

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The Ministry of Finance all measures to protect Iraqi funds with the approach of lifting the immunity of the U.S. for, among carried the House of Representatives responsible for the negative effects of the delay in approving the budget at the grassroots level and at the state level in general, indicated to conduct negotiations with Iran for the consolidation of economic and financial relations after the rise in the volume of trade with more than 12 billion dollars last year.

Immunity lifted after tomorrow

The finance minister said the agency, Dr. purity of net debt in an interview for the "morning" to lift the immunity of the U.S. for Iraqi funds deposited in the Development Fund for Iraq will be after tomorrow, Thursday Accordingly, the ministry has taken all measures to protect the money from creditors described more claims without accurate, expressing fear of the occurrence of reservation of funds that have been achieved if the filed requires time, stressing that Iraq is sure that a lot of disputes is questionable.

He added that the real debt owed by Iraq should be settled on the basis of the Paris Club agreement, which obliges states to turn off 80 percent of the debt owed by Iraq and the remaining 20 percent are settled for over 20 years, or to pay all at once.

He said the net that some nations to their own circumstances do not want to compromise on the basis of the Paris Club agreement while Iraq is able to adopt this approach because it would make him in violation of the agreement will engender serious damage and it is currently being negotiated with such countries as Brazil, Morocco, Egypt, Pakistan and some African countries, noting that negotiations taking place with the help of the World Bank and some countries that intervene in support of Iraq and urges creditor countries on the settlement in accordance with the Paris Club by giving these countries 20 percent of the debt is waived 80 percent.

He disclosed that the recent visit to Washington saw the dialogues between financial advisers and auditors Iraqis with their international counterparts to develop a settlement, noting that a delegation from the ministry would soon travel to Brazil to negotiate a debt he believed Iraq to succeed access to international support on the subject of debt settlement.

He explained that some of the commercial debt owed by Iraq over them for more than 20 years and hence the payment of legal about it in the interest of the country, especially that most there are no documents or documents confirming indebtedness and will be ready to defend our interests, noting that the legal protection mechanisms stomach by Iraq underscores not enable creditors to put booking money taken these mechanisms as well, adding that "Iraq is committed to meet the entitlements and the debt owed it to all creditors in order not to lose credibility in front of the international community and international companies."

The negative effects of the delayed budget

And on the delay in approving the budget by the House of Representatives said net that the current year budget in crisis Astunaha House for political purposes, a bear all its negative effects on the grassroots level and at the state level in general, noting that the government dropped the argument full House of Representatives, including the size of the budget and revenue and returned the existing deficit budget this year, which is more political than technical and professional development.

And the net he had discussed with the Finance Committee and the Economic Committee in the House of Representatives all matters relating to the budget in a transparent and honest, especially with regard to increasing the volume of spending resulting from the issuance of legislation, mostly proposals laws have not been approved by the government explicitly and given the circumstances of the election there was a reluctance to challenge these laws and thus become deficit ratio large, as well as there was no clarity of revenue, especially with the thumbs great on the amount of oil exports by the Kurdistan Regional Government, which directly affects the size of the revenue associated with the size of the deficit as the revenue for 400 000 barrels of the provincial government and three million barrels from the center carries with it a deficit up amounted to 32 Trliuna If the province did not issue 400 000 barrels, the deficit will rise to more than 50 Trliuna and this has led to confusion in the development of the budget.

Stop projects

He said the government now spends 1/12 of the actual expenditures for the year 2013, especially in the field of operating either in the field of investment is not easy to cover all projects, especially as the new projects of up to 20 percent and continuing to 80 percent and the recent require the recycling process has to approve the budget as well as the size of the spending for the year 2014 increased in relation to operating expenditure of medicines and the process of opening schools, hospitals, defense, interior and all the ministries and this puts the state administration in the inability to meet the expansion happening because it requires the expenditure is governed by the budget is approved so far, and perhaps the most important as regards the citizen directly grades because there is about 34 000 degrees and careers did not recognize and 37 000 degrees the other to install decades addition, the new projects will provide job opportunities and accelerate to meet the needs of citizens in the areas of housing, municipalities, health, education, agriculture and irrigation, noting that all sectors of government have projects threatened to stop.

He stressed that failure to approve the budget did not adversely affect the Iraqi economy only, but was overshadowed by social conditions and security and in spite of this, the joints of the state have to move and laws are all, whether the general principles of law or the law of financial management and public debt and the constitution could allow for the legal texts combined find exits legal with respect to spending in the event of a failure to approve the budget and perhaps the director's best-selling launch advances to state departments the decisions of the Council of Ministers, pointing out that the launch of advances mean grant amounts on the account as a down payment and then be settled and these things are recognized when there is no approval of the state budget .

He said the finance minister said many countries commit their parliaments duration of the specific approval of the budget in the absence of ratification of the time limit is a window upon the result of the situation through which the country must find a text in the Financial Administration Act and the Public Debt determines a certain period of approving the budget in the House of Representatives in order not to repeat the question delay in approval every year because of damage paid for the citizens and the Iraqi economy.

He said the government dropped the argument on the House of Representatives during the request for an expanded meeting between them and the House of Representatives and won in the parliament in the presence of Deputy Prime Ministers and ministers concerned and the leaders of the two ministries and the central bank and the Financial Inspection Office and the General Secretariat of the presence of the Speaker and his deputies and the heads of the committees are all in addition to the heads of the blocks and was recently transparent and frank on the seriousness of the failure to approve the budget and put it.

Trade with Iran


And on the recent visit to Iran, headed by Deputy Prime Minister Ruz Shaways said net it came to the consolidation of economic and financial relations and trade, especially as the volume of trade exchange between the two countries last year reached $ 12 billion is available for the breadth of what connects the two countries of significant economic ties by virtue of neighborliness and therefore this requires structured Kaljmark various fields, insurance, banking, investment and double taxation.

He said the importance of the order of these files with Iran is now under international sanctions and while you should respect the decisions of the UN Security Council requires finding ways are to maintain the national interests in trade relations and this is what require the existence of legal mechanisms balance both cases. Stressed the net on the investment sector between the two sides saw the negotiations serious preparation for the conclusion of an investment agreement and other Double Taxation and the signing of a memorandum of understanding on customs cooperation, one of the important things for the existence of border ports multiple a sector comes importance to the presence of the dimensions of economic, health, environmental and security and therefore requires careful organization, especially that there are excesses in specific areas between the two countries requires the cooperation of the organization.

He explained that the two sides also discussed the activation of banking cooperation and discuss the possibility of opening Iraqi banks in Iran, especially the latter proceeded to open banks in the Kurdistan region are registered with the Central Bank of the Federal and these steps are very important on the economic relationship in all its different aspects that frame the legal relationship of sound has many dimensions to process level statistics and knowledge accurately the size and nature of the deal and its kind in addition to that, there were serious discussions on standardization and quality control and on examining the materials that go into Iraq, and vice versa in terms of quality and not violating international standards and Iraqi forces.

He Net existence of agreements between Iraq and neighboring countries, areas of double taxation, customs and free trade as it signed protocols with Turkey, Kuwait, Jordan and Syria, in addition to the conclusion of agreements with some countries still before the House of Representatives such as the Convention strategy with Turkey, which has not been authenticated by the House of Representatives because of material water-related because he confirmed the necessity of organizing the water issue between Iraq and Turkey, according to the conventions and clear take into consideration international conventions.


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