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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Al-Kazemi's financial advisor reveals proposals to establish a sovereign wealth fund

rocky
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Al-Kazemi's financial advisor reveals proposals to establish a sovereign wealth fund Empty Al-Kazemi's financial advisor reveals proposals to establish a sovereign wealth fund

Post by rocky Tue Mar 02, 2021 10:29 am

Al-Kazemi's financial advisor reveals proposals to establish a sovereign wealth fund

  •  Time: 03/2021 07:58:49
     
  •  Read: 4,368 times

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{Baghdad: Al Furat News} The financial advisor to the prime minister, Mazhar Muhammad Saleh, revealed positive proposals to establish a sovereign wealth fund in which funds equivalent to the current compensation for the Kuwait war would be deposited, in line with the white reform paper.
Saleh said in a press interview, "We have positive ideas and proposals to establish an Iraqi sovereign wealth fund, in which amounts equivalent to the compensation of the Kuwait war are deposited after the payment of these compensation in the coming months, and it is managed in the manner of the generational funds." He considered it "a sovereign investment resource for Iraq, and in a manner consistent with it." With the white paper launched by the government to strengthen and reform the structure of the Iraqi economy. "
Saleh explained, "There is nothing left of the Kuwait war compensation, but an amount that may be less than 2.5 billion dollars out of 52 billion dollars until the moment, as 3% of the proceeds are still deducted from every barrel of Iraqi crude oil that is exported, through a mechanism and a bank account that the bank takes over." The Federal Reserve in New York, pursuant to a subsequent Security Council Resolution No. 1483 in May 2003. "
He pointed out that "deductions are currently paid through the United Nations Compensation Fund {UNCC}, expected to" end the remaining compensation are all within a year or a little more, according to the evolution of oil prices and yields a barrel of Iraqi oil source. "
The Committee of Nations Compensation The United States was formed in 1991, the same year in which the US-led coalition drove the Iraqi forces from Kuwait, and the committee was tasked with paying $ 52.4 billion (46.8 billion euros) to Kuwaiti individuals, companies, government agencies and other organizations that suffered losses due to Saddam’s regime’s invasion of Kuwait, The compensation money comes from a tax levied on sales of Iraqi oil and its products.

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