Iraq plans reduction in Kuwait compensation
KUWAIT: The Iraqi parliament started discussions about ways to utilize funds that can be saved from a potential resolution to reduce the compensation due to Kuwait from five to three percent.
“Iraq needs billions to rebuild its infrastructure, something that reducing the percentage of Kuwait’s compensations can contribute to,” financial parliamentary committee member Ibrahim Al-Mutlak said in a statement yesterday.
The Iraqi lawmaker counted on the “good relations” between his country and Kuwait “to resolve all issues left by the former regime”, and called the Iraqi government to use “two percent of the funds collected by reducing Kuwait’s compensation in rebuilding the almost completely non-existent infrastructure.”
Iraq’s Deputy Prime Minister, Rowsch Nuri Shaways, was quoted recently as saying that his country obtained a “green light” from the United Nations to “reduce the percentage of compensation to be paid to Kuwait” for destruction during the 1990/91 invasion.