Ministry of Finance: Iraq does not need to protect the American money

Posted by on May 20, 2014 | Leave a Comment

With the approaching deadline annual renewal of Iraq’s request to extend the protection of his money in the twenty-second of May of each year, the Ministry of Finance, this time not to renew the claim the U.S. administration to the protection of his money. director of administration and planning at the ministry, confirmed that the government would not seek renewal of American protection to Iraqi funds deposited in banks, he underlined that the CBI will be responsible for managing and investing into the newspaper quoted “long” an official at the Central Bank of Iraq has fulfilled its obligations to the vast majority of the creditors, and the rest of them do not constitute a source of concern, as well as that of those funds sovereign does not can be compromised, but observers economists warned of the consequences of non-renewal of the protection of Iraqi funds, for fear of claims awaiting the opportunity to do so.

Minister of Finance and serenity net debt agency announced last month that the Iraqi government is seeking to settle the full debt owed them by the agreements signed in the Paris Club, explaining that Iraq ended its debts to three and forty state while negotiations are under way to pay off the rest of the debt of only eight countries. more in follow-up prepared by the reporter with Radio Free Iraq in Baghdad innocent chaste The Ministry of Finance said that Iraq will ask the U.S. side to renew its protection of its funds deposited in U.S. banks, the Central Bank will Iraqi responsibility of management after the withdrawal of Iraq from the provisions of Chapter VII of the Charter of the United Nations. said Director of Financial Management and Planning in the Ministry Hilal Taan, in his interview with Radio Free Iraq that “Iraq has met the majority of its obligations in front of the international creditors,” pointing out that “the money Iraq would be able to invest in abroad.


” However, the head of Economic Information Center non-governmental Dargham Muhammad Ali, confirmed the existence of the fears of economic circles of the “inability of the Central Bank of the protection of Iraqi funds in U.S. banks, in light of the continued existence of claims by some countries and companies creditor of Iraq, the Despite the absence of evidence to prove the credibility of those countries and companies. ” so assured member of the Finance Committee in the House of Representatives Abdul Hussain al-Yasiri concerns economists saying that “the Iraqi funds in overseas money sovereign, can not be manipulated, or repayment of Iraqi debt from which.


” Iraq had a request from the U.S. administration for three consecutive times to protect his money deposited in U.S. banks for the years from 2011 to 2014, especially after fulfilling its obligations to creditors who emerged after 2003, whether they are governments or businessmen, according to the Paris Club agreement, Judge, that pushes Iraq 20% of the amounts his trust owed to creditors in the form of payments for waiver of those actors about 80% of the total value of the debt, or pay 10% in cash in exchange for ceding 90%



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