An agreement between Baghdad and Erbil to schedule the debts of Kurdistan within 35 days and to unif

by **Proven** Mon 17 Aug 2020, 10:27 am

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An agreement between Baghdad and Erbil to schedule the debts of Kurdistan within 35 days and to unif

by Proven Mon 17 Aug 2020, 10:27 am

An agreement between Baghdad and Erbil to schedule the debts of Kurdistan within 35 days and to unify customs procedures between the two parties

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Baghdad / Al-Akhbariya: On
Sunday, the federal government and the government of Arbil agreed to schedule the debts of the Kurdistan region within 35 days and unify customs procedures between the two parties.
The agreement stipulates that in the coming years it will be agreed to set an amount in a fair percentage from the federal budget for the Kurdistan region through the introduction of constitutional standards, population ratios, and Kurdistan region’s imports (oil and non-oil) in the previous year.
The agreement document, which will be in effect until the approval of the federal general budget for the year 2021, stipulates that an agreement will be concluded within 35 days of this agreement on a mechanism to pay and schedule the payment of the TBI's debts owed to the Kurdistan region, and also to deal with the previous debts of the Kurdistan region, provided that the region does not object to providing All information required to develop an action plan to be addressed.
Regarding the issue of auditing the accounts, the agreement provides for the formation of a joint committee from the Office of Financial and Federal Supervision and from the region to deal with the issue of accounts entailed by the two parties and to agree on methods of settling accounts between the federal government and the Kurdistan Regional Government and from the accounts of the year 2014 until 2020, and the region provides all the information requested by the government Federal.
According to the document, the Kurdistan Regional Government expresses its readiness to conclude an agreement on the energy file, including electricity and gas, in accordance with the legal and technical contexts that are agreed upon between the competent authorities in the two governments.

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