Raise funds for American protection Iraq raises fears of potential creditors
Raise funds for American protection Iraq raises fears of potential creditors
05/29/2014 (00:01 pm)
BAGHDAD / Ghazanfar Laibi
The decision by the United States for the decision not to renew the protection of Iraqi funds fears observers of Iraqi oil revenues, the risk that the fund deposited in the DFI creditors to pursue the unknown.
In spite of the recognition of Iraq’s possession of observers “defensive force” made up of financial and legal experts to protect Iraqi assets, Iraqi authorities demanded the opening up to the world to address the legacy of the previous regime.
He attributed it to a government official and deputy in Parliament American decision to fulfill its obligations in full Iraq to the international community and out of Chapter VII.
The Ministry of Finance said, last Wednesday, it will not require renewal of American protection to Iraqi funds deposited in their banks, to assume the CBI responsible for management after coming out of Chapter VII of the Charter of the United Nations, while U.S. President Barack Obama on Tuesday night, his decision to lift the protection.
Commenting on this, says the appearance of Mohammed Saleh, a former official at the central bank, said that “the Development Fund for Iraq contain account receipts of oil, which opened in May 2003 working for the protection of Iraq’s money and wealth,” noting that “the U.S. President has the authority to renew the protection and with the consent of U.S. Congress, and the protection was renewed in the fifth month of every year. ”
Saleh said in an interview for the “long” it “in accordance with the vision of the United States did not stay justification for maintaining the protection of Iraqi funds for that protection has not been renewed for this year.”
But financial expert and former official at the central bank expressed fears of “complaints made by the private sector, foreign money of the Republic of Iraq still exist,” adding, “Maybe there is an unknown number will sue or court orders, is expected to be cases of false or forged, including Who will sue again after gaining earlier lawsuit, which is open. ”
He stressed appearance by saying “on Iraq to face the world and has the strength and courage to face things and give rights to their owners and resorting to the Paris Convention,” noting “was settled more than 21% of the debt to trade creditors before the year 1990 during the terms of the Paris Agreement, and should not contradict financial settlements with the Paris Agreement. ”
Despite the concerns shown by the former official at the central bank, but stresses that “Iraq has a defensive force for Iraqi funds in the Ministry of Justice is composed of experts money and the law are working in collaboration with international lawyers to defend the financial interests of Iraq,” and believed that “the danger to the Iraqi funds remains valid because the world is not guaranteed and must defend our interests, financial and give the right of the owners, and to be open to the world, it is the legacy of the previous regime. ”
For his part, sees financial expert Hilal Taan in an interview for the “long”, “The Iraqi government fulfilled all its financial obligations towards the creditor nations of Iraq, and given the debt owed by the former regime.”
Taan and adds, “so there is no seriousness of creditors or piracy on Iraq’s money after extinguishing the Iraqi debt through the Paris Convention, as well as the Gulf War reparations through the deduction of part of the general budget to be paid.”
And confirms the director of administration and planning in the Ministry of Finance said that “Iraq has to pay a large part of its foreign debt and do not risk the appearance of creditors potential to demand their money nor fears their backs when the restoration of Iraqi funds,” pointing out that “Iraq is a sovereign country and has an independent government and it is natural to raise protection for his money. ”
So to say Najeebeh Najib, a member of the Finance Committee, said that “Iraqi funds were under the protection of the United States since the year 2003 until the present day.”
Najib explained that “Iraq and after that came out of the seventh item in and out of the United Nations resolutions become unable to manage his money, so it did not renew the U.S. decision to protect the funds for this year.”
They pointed to a member of the Kurdistan Alliance, said that “the DFI fund was able to protect Iraqi funds from claimants Bdjunhm of people, companies and countries,” adding that “Iraq will ensure the protection of its assets in accordance with the proper legal procedures.”
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