Samson: Immunity of Central Bank of Iraq funds abroad
27th July, 2021
The Legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them. They also confirmed that they will defend its immunity with the rest of the countries, and these reserves cannot be compromised.
As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, this will lead to the lifting of the international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.
In this context, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.
Central Bank of Iraq
27 July 2021
The United States confirms the "immunity" of the reserves of the Central Bank of Iraq: its funds cannot be seized
28th July, 2021
The Central Bank of Iraq announced, on Tuesday, that its funds are "fortified" by an American decision, "and no party can seize them."
The bank stated in a statement, that the legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them.
The Governor of the Central Bank is accompanied by the Iraqi Prime Minister in the delegation in Washington.
The bank added, "Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it before 2003, as this will lead to the lifting of the international immunity of Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies." He also added that those American legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.
And the UN Security Council, by its Resolution No. 1483, imposed protection for Iraqi funds and property abroad, especially the Development Fund for Iraq opened at the Federal Reserve Bank of New York, and it is the account in which Iraqi oil revenues are deposited, from which the Kuwait war compensation amounting to 5% of those revenues are deducted.
This account is managed by the Central Bank of Iraq as the financial agent of the Iraqi state, and there are additional guarantees issued by the US President to protect the funds of the Central Bank of Iraq in the United States from any prosecution that arises against the interests and funds of Iraq when it was subject to the provisions of Chapter VII under the supervision of the United Nations As a result of Saddam Hussein's regime's occupation of neighboring Kuwait.
Iraq sought to cancel its debts during the period of the previous regime’s rule, amounting to more than 120 billion dollars, some of which is due to compensation due to the wars it waged against its neighbors and others to countries and merchants, while the government demands some countries and merchants to pay their dues and threaten to file lawsuits in international courts against Iraq Import Fund. LINK
MilitiaMan: These articles are supporting further evidence that they have the money to defend their currency. There is law that protects the funds of the central bank.
The debtors are creditors from the past have no law to support them suing effectively for past actions. Therefore the hundreds and hundreds of billions of dollars worth of assets that can be clawed back can be if not already or in progress used for the purpose of supporting the ability to defend their currency in the open market.
The gold that was found on the Syrian border of upwards of 40 tons when added back to reserves would be within or under the law too, imo.. So them having legal protection is a massive clue, as to where we are going and in short order.
The below tells us that there have done significant efforts to legislate prosecution of the corrupt which would be apart of the clawing back of assets.
From what we have seeing over the years, there is a lot of assets with massive implications from the return of said assets. All of which again supports the value of the Iraqi currency and will be noted in and during the implementation of the budget law.
All of which will supports Kahdimi for another term. He is coming home with antiquities!! The goods!! That is all about negotiations.
Just as there would be negotiations with the WTO in respect to being ready for full ascension. The last part of being ready for ascension is hard negotiations. Well, same goes for antiquities. imo
Then there is the final meetings about economic partnerships. That means future business. Future business needs freedom of capital movement. That comes from being fully article 8 compliant. Thus, having an international rate of exchange is necessary. A program rate doesn't cut it.
We know that FM Alawi had a meeting with Janet Yellen yesterday. The theory I have is that with what I see above is that meeting may have had implications to these partnerships. As in paring currency and or bonds.
Iraq has stated they are to activate the market in the second half of the year to which is now or shortly by issuing bonds. They said they have increase 360% in the first half of this year and that supports the move to issue bonds for the second half. I'll bet the topic was covered yesterday.
The discussions or negotiations may have been about currency swaps or even bond swaps, exchange rates attributed to them, digitization, etc... Time will tell.
We know the IMF has recently told us they increased the value of gold holdings at the IMF from $4.6 billion +- to $#168 billion +- from re calculating currencies retro active to January 1, 2021.
Similar to what is stated about the salaries and HCL payments. The payments are to be on cards. WE see today talk from Rafadain Bank. In my view that is digital money moving and when or if with a new system the money needs to be paired with similar currencies for global trade.
They have to be able to communicate or trade on a level playing field, cross border payments will require it.
One field that is supported by central banks around the world. That appears to be in the forefront in or on many fronts now. I like where we are in this.. ~ IMO ~ MM
A deputy discusses Barham Salih with legislation to prosecute the corrupt
27th July, 2021
Deputy Chairman of the Parliamentary Finance Committee, Muthanna Al-Samarrai, reviewed, on Tuesday, with the President of the Republic, Barham Salih, efforts to legislate the law to prosecute the corrupt, and the most important developments in the Salah al-Din Governorate.
Al-Samarrai said in a statement received by Mawazine News, a copy of it, that he "met President Barham Salih at the Peace Palace in Baghdad, during which a number of issues related to the legislation of laws, the work of the Parliamentary Finance Committee, early elections and the situation of Salah al-Din Governorate were reviewed."
Al-Samarrai explained, "He reviewed with President Saleh the efforts of the Finance Committee regarding its role in legislating the law to prosecute the corrupt and its continuation in holding meetings and carrying out its work without interruption, including monitoring and following up on the implementation of the budget law."
During the meeting, according to the statement, "the file of the early elections to be held on the tenth of next October and the preparations of the Electoral Commission, political blocs and popular activities for this entitlement were discussed." LINK
The Iraqi delegation headed by Al-Kazemi returns to Baghdad tomorrow with a huge amount of recovered antiquities
Minister of Culture and Tourism and Antiquities Hassan Nazim in a televised interview:
17 recovery thousand archaeological pieces Iraqi from America, which is a number of mud within the Iraqi antiquities smuggled after 2003 and will be returned via the aircraft prime minister to Baghdad figure carrying cuneiform writing for trade exchanges in the Sumerian and replay civilization comes as a result within the work after long and intense negotiations, and after many months of negotiations, it is the largest recovery operation of Iraqi antiquities and has importance to the Iraqis.
Tomorrow we will return to Baghdad and these antiquities will be returned on board the plane of the Iraqi delegation headed by the Prime Minister. These pieces will be displayed in the Iraqi Historical Museum, and we will witness in the near future antiquities recovered from other countries that will be held during the coming hours will have an extensive meeting with influential political figures and American businessmen in Washington to discuss investment projects and economic partnerships between the two countries. LINK