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[size=55][size=35]"The Generations Fund" in Iraq ... Details are presented for the first time[/size]
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- [ltr] Mar 03 2021 - 9:23[/ltr]
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Sumer News: Baghdad ..[/size]
The financial advisor to the prime minister, Mazhar Muhammad Salih, revealed a proposal 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 reform white 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 along the lines of generational funds." 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, according to a subsequent Security Council Resolution No. 1483 in May 2003, "and indicated that" the deductions are currently paid through the United Nations Compensation Fund "UNCC", expecting that "all the remaining compensation will end within a year or a little more," According to the development of oil prices and the proceeds of a barrel of Iraqi oil.
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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 along the lines of generational funds." 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, according to a subsequent Security Council Resolution No. 1483 in May 2003, "and indicated that" the deductions are currently paid through the United Nations Compensation Fund "UNCC", expecting that "all the remaining compensation will end within a year or a little more," According to the development of oil prices and the proceeds of a barrel of Iraqi oil.
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