Parliamentary economic committee: Frozen Iraqi funds freed from restrictions

Posted: July 2, 2013 in Iraqi Dinar/Politics
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Confirmed the parliamentary economic committee, on Monday, said that frozen Iraqi funds freed from the constraints imposed on them after the withdrawal of Iraq from Chapter VII, noting that these funds are found in various international banks, particularly the U.S., Britain and Switzerland, pointing out that they will use in the provision of infrastructure infrastructure and armament file, as revealed by observers from the possession of the

Central Bank of nearly $ 84 billion in global banks the government can not manipulate them.

The UN Security Council voted on Thursday (June 27, 2013) on the exit of Iraq from the provisions of Chapter VII after the settlement of the government all of its obligations with the Kuwaiti side except file debt, where he remained owed ​​by Iraq about $ 11 billion was agreed to be paid within two years through the deduction of 5% of the Iraqi budget or granting Kuwaiti investments to companies.

A member of the Committee on the economy and investment in the House of Representatives Amer Al-Fayez told (New Morning) that “Iraq and after his release from the provisions of Chapter VII of the Charter of the United Nations, freed from the financial and economic constraints that were imposed in the past.”

He said Fayez said, “We have billions of dollars Kersdh in international banks were seizure during the creation of Kuwait in 1990,” noting that “most of these funds exist in the banks of Britain and the United States, the U.S. and Switzerland.

There is no clear statistical size.
Fayez pointed out that «the money freed after the Chapter VII are unrestricted and can dispose of them to the fullest, stressing that« the government will establish a mechanism to deal with these amounts.

A member of the Economic Committee that «there are two areas will be spending a large part of these two amounts, indicating that« the investment side will take the largest share because Iraq needs more projects to support the infrastructure and there will be a new breakthrough in this area.

Fayez warned that «The second area would be to develop military capabilities in conjunction with the Iraqi armament deals», dismissing «intention Iraq’s possession of offensive weapons as it came to the issues, especially since the defense area witnessing security successive developments in conjunction with the widening of the conflict on the Syrian front.

Either in connection with the protection of Iraqi funds has Fayez said that «there is an agreement entered into by the government earlier with the United States attached to the Treaty on the topic of military withdrawal of Iraqi funds.

He went Fayez «Under the agreement, the United States holds the protection of Iraqi funds regardless of the position of Chapter VII of the Charter of the United Nations», pointing out that «this protection comes importance of that most creditors of Iraq are U.S. companies»

The Fayez noted that «not for this agreement to all sides of the Prosecutor has that her money to Iraq sue him once out of Chapter VII.

And a member of the Economic Committee predicted that «this protection will continue until a settlement with creditors through a road map where payment of dues», adding that «Washington will have a significant role in resolving the debt of U.S. companies to Iraq.

And at the same, the judge said Wael Abdul Latif told (New Morning) that «Iraq has a lot of money in international banks.

He said Abdul Latif that «among these funds amount to the Central Bank of Iraq up to $ 84 billion deposited in
international banks discreet», adding that «the Iraqi government can not manipulate the money for it back to an independent institution has no right to the executive interference in their affairs». It is said that the citizen Bloc demanded the formation of an ad hoc committee to receive Iraqi funds abroad after the withdrawal of Iraq from the provisions of Chapter VII.

The MP said the bloc Mohammed Allkash «should be strict controls to protect Iraqi funds abroad after graduating from the international trusteeship and we demand the formation of a special committee to receive the money to keep them ‘.

He called Allkash international companies «to invest in Iraq and the opportunity today became available more than ever before, he needs to large infrastructure as well as in the field of housing, as it did not stay there any excuse for the government in any way after the withdrawal of Iraq from Chapter VII to take off in the process of construction and reconstruction«.

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