*Modification of Chapter 7 ~ Iraq wants UNSC to extend immunity for DFI beyond 2010

[sunsetjet]

(previously) Maliki "During the remainder of 2009 and in 2010, we will take action to recover the international financial standing of Iraq while at the same time ~

Iraq wants UNSC to extend immunity for DFI beyond 2010

7/8/2010

UNITED NATIONS, - Ahead of a quarterly report by Secretary-General Ban Ki-moon on the Development Fund for Iraq (DFI) and a Security Council meeting on the issue next Monday ...

Iraqi Ambassador Hamid Al-Bayati met late Wednesday with the UN Chief to seek continued immunity for the Development Fund for Iraq (DFI) after it expires on December 31, 2010, and to inform him that his government decided to keep the Fund in the US Federal Reserve in New York with or without UN immunity.

"Iraq may need the council to extend the DFI (immunity) beyond December 2010. But even if an extension was not possible, Iraq is making arrangements for beyond December 2010. The Iraqi Government's decision is that the DFI remains in the US Federal Reserve in New York, under another name, and five percent of the Iraqi oil revenues will continue to be paid to the UN Compensation Fund, as usual, without changes," Al-Bayati told KUNA following the meeting. Ban recommended to the council in his report on the issue last April not to provide immunity to the Fund beyond 2010. UN immunity shields Iraq from its debtors.

The DFI was established by the council in 2003 to hold the proceeds of oil sales from Iraq and meet the country's humanitarian needs. It is being monitored by the International Advisory and Monitoring Board (IAMB) to ensure transparency. The council also decided in 2003 that five percent of the proceeds be deposited into the Geneva-based Compensation Fund to compensate the victims of Saddam's invasion of Kuwait in August 1990.

Al-Bayati said that in order to put an end to the DFI it created in 2003, the council has to meet again at the end of December and adopt another resolution.

"At that time, Iraq will be free to open a Fund anywhere, but the Government decided to keep the Fund in the US Federal Reserve in New York with the same arrangements, including the payment of five percent to the Compensation Fund. But I understand the successor Fund of the DFI will carry another name, since the DFI was a name given by the council," he said. The Iraqi Ambassador also said that the IAMB will also disappear with the DFI, adding that the successor Fund will be monitored by the Iraqi Committee of Financial Experts (COFE).

He added that COFE Chairman Abdelbasit Turki Said Al-Bayati is scheduled to address the council next Monday when the members discuss the issue.

The council voted unanimously last December to extend the DFI until December 31, 2010 and to review it in mid-year at the request of Iraq. It requested Iraq at the same time to put in place an action plan and timeline for the transition to a post DFI mechanism beginning 2011. The action plan and timeline were conveyed to the council recently in a letter by Iraqi Foreign Minister Hoshyar Zebari.

KUNA Jul

and ... another source same subject ~

08/07/2010م - ص مرات القراءة: 100 07/08/2010 - 10

To keep the Development Fund for Iraq under the name of another in the Treasury U.S. federal

The Ambassador of Iraq to the United Nations, Hamid al-Bayati, the UN Security Council here last night that Baghdad had decided to retain the Development Fund for Iraq in the U.S. federal treasury with the immunity of the United Nations to the Fund, which protect against creditors or without, which expire on Dec. 31.

The al-Bayati, told the Kuwait News Agency (KUNA) that "Iraq plans to keep the Development Fund for Iraq in New York with a different name and will continue to pay five percent of Iraq's oil resources to the United Nations Compensation Fund without any change."

Ban was recommended in his report on the issue of the Development Fund for Iraq last April not to provide immunity to the Fund during the period beyond December 2010.

Was established the Development Fund for Iraq in 2003 for the conduct of the sale of Iraqi oil is to Iraq's humanitarian needs and subject to the control and supervision of the international consultancy to ensure transparency.

Al-Bayati said in this context that the Security Council should convene a meeting to end the Development Fund for Iraq at the end of December and another resolution.

He said the fund, which will take a different name will not be subject to the control of body control and international consultancy, but the control of Iraqi committee composed of financial experts headed by Abdul Baset Turki, who is scheduled to deliver a speech at the Security Council next Monday in a meeting to discuss the issue of the Development Fund for Iraq.

The Security Council demanded that Iraq at a meeting to approve the extension of the Fund until the end of December at the request of Baghdad, an action plan and timetable for transition to post-end fund from 2011.

The Iraqi Foreign Minister Hoshyar Zebari, delivered the work plan and timetable for the Security Council earlier.

http://alforattv.net/index.php?show=...ticle&id=46625

[sunsetjet]

Monday, July 12th Iraq and UN Security Council Meeting ...

UNITED NATIONS, - Ahead of a quarterly report by Secretary-General Ban Ki-moon on the Development Fund for Iraq (DFI) and a Security Council meeting on the issue next Monday - July 12, 2010.

*Modification of Chapter 7 ~ Iraq wants UNSC to extend immunity for DFI beyond 2010 ... (and previous related links)

** note also on July 12-13 July 12-13-2010, IMF, South Korea to co-host high-level international conference in Seoul

http://articlesofinterest-kelley.blo...-security.html

[Hue Mi]

.
Iraq wants UNSC to extend immunity for DFI beyond 2010

[sunsetjet]

*Modification of Chapter 7........... CHAPTER 3?
.............. They can call it what ever they want to, if they can get international trade out of it, and their money is safe from law suits ect...........

Wonder how long they can keep this up?

I would love, love , love to see the IQD move up to the forex.......wishful thinking~ maybr next year!

[Screaming Eagle]

*Modification of Chapter 7........... CHAPTER 3?
.............. They can call it what ever they want to, if they can get international trade out of it, and their money is safe from law suits ect...........

Wonder how long they can keep this up?

I would love, love , love to see the IQD move up to the forex.......wishful thinking~ maybr next year!

It is doubtful that you will see the IQD move up to the FOREX next year or even in your lifetime or ever. Only ~ 8 currencies are actively traded on the Forex. Iraq is too much in debt, too poor, and too unstable. The only reason the IQD holds its value is that The CBI backs it with a manged float against the dollar. Traded freely on the FOREX it wouldn't last a day. http://www.investopedia.com/ask/answ...rencypairs.asp

[sunsetjet]

It is doubtful that you will see the IQD move up to the FOREX next year or even in your lifetime or ever. Only ~ 8 currencies are actively traded on the Forex. Iraq is too much in debt, too poor, and too unstable. The only reason the IQD holds its value is that The CBI backs it with a manged float against the dollar. Traded freely on the FOREX it wouldn't last a day. http://www.investopedia.com/ask/answ...rencypairs.asp

Why invest in Iraq at all then, not to mention all the corruption.

I thought they were holding the IQD at a fixed rate for the past year or so?

[Screaming Eagle]

Why invest in Iraq at all then, not to mention all the corruption.

I thought they were holding the IQD at a fixed rate for the past year or so?

The CBI rate has been a managed float since the IQD was introduced in 2003. There is corruption everywhere.
People invest in the ISX for future growth and dividends which may be forthcoming in the future if the country remains stable and has economic growth.

They invest in Warka bank savings and CD's because they receive a interest return on their money everyday because it is saved or invested in a CD's at rates which are presently higher than any where else in the world because of the risk. Presently 7% APR on savings and 10% APR on CD,s and everyday they make money.

Those are investments in Iraq or Iraq businesses. I have no idea why people buy and hoard dinar that has been smuggled outside of Iraq for speculation as there is no logical reason for the action other than they were conned into believing that that if they overpaid for dinar including commissions and shipping some poor Iraqi that makes on average $2200 a year is going to come along soon and give them a $1,000,000 for a $1,000 worth of dinar.

[sunsetjet]

Security Council DFI fund July Report - Monday, July 12th Iraq and UN Security Council Meeting ...
Snip from July's Security Council report ~ "Expected Council Action - The Council is expecting a report on the Development Fund for Iraq in July. (which is posted below) and ...

It is likely that the UN Controller will brief Council members in informal consultations on the fund. No Council action is expected. An open meeting may be possible which would allow an Iraqi representative to speak" (which would be Monday, July 12th meeting)

http://www.securitycouncilreport.org...2010brIraq.htm

6 July 2010

United Nations Security Council Distr.: General

Original: English

Second report of the Secretary-General pursuant to paragraph 3 of resolution 1905 (2009)

Introduction

1. The present report is submitted pursuant to paragraph 3 of Security Council resolution 1905 (2009), in which the Council requested me to report every three months, with the first report no later than 1 April 2010, to include details on progress made in strengthening financial and administrative oversight of the current Development Fund for Iraq, as well as details on the legal issues and options to be considered with respect to implementing successor arrangements for the Development Fund and an assessment of the progress of the Government of Iraq in preparing for such arrangements.

2. The issues covered in the present report were discussed at the recent meeting of the International Advisory and Monitoring Board held in Paris on 28 and 29 April 2010, and reflect activities with regard to both the Advisory Board and the Development Fund that have taken place between the time of my first report of 1 April 2010 (S/2010/166) and 30 June 2010.

Major developments

Recent activities with regard to the Development Fund for Iraq and the International Advisory and Monitoring Board

3. At the meeting held in Paris, the Advisory Board considered the preliminary results of the audit of the Development Fund for the year ended 31 December 2009. The summary of the preliminary results of the KPMG audit are available on the Advisory Board’s website. The audit continues to highlight issues of concern regarding weaknesses in controls over oil extraction and in the spending ministries. Audit fieldwork is not yet complete, as a result of delays caused by recent bombings that affected a number of ministries.

4. At the meeting, the Advisory Board approved the audit appointment process and concurred with the recommendation of the Government of Iraq to appoint PricewaterhouseCoopers to conduct the 2010 audit of the Development Fund, including an interim review of the period from 1 January 2010 to 30 June 2010.

5. At the meeting held in Paris, the Iraqi representative to the Advisory Board, the President of the Board of Supreme Audit and the representative of the Committee of Financial Experts briefed the Advisory Board on progress in implementing earlier recommendations of the Advisory Board and in strengthening the overall framework for public financial management in Iraq.

6. The Advisory Board was also briefed by the representative of the Committee of Financial Experts on actions taken to enhance the transparency and accountability of the Development Fund, taking into account the earlier external audit findings. That briefing is published on the websites of both the Advisory Board and the Committee.

7. I welcome the fact that the Committee of Financial Experts continues to meet monthly and, in conjunction with the Board of Supreme Audit, performs detailed follow-up and investigation of recommendations contained in the independent audit reports commissioned by the Advisory Board. In addition, I welcome the fact that a number of audit recommendations have been implemented while the outstanding findings are being closely followed up.

8. I note with concern, however, that, owing to certain administrative issues, there were delays in implementing the comprehensive oil-metering system.

I urge the Government of Iraq to follow up on this issue and ensure that the implementation of the comprehensive oil-metering system continues as envisaged in the time-bound action plan presented to the Security Council.

9. In April 2010, the Controller of the United Nations, Jun Yamazaki, my designated representative on the Advisory Board, briefed the Security Council on the activities of the Development Fund and the Advisory Board.

10. The next meeting of the Advisory Board, with the participation of the representative of Committee of Financial Experts, is tentatively scheduled for October 2010.

B. Assessment of the progress of the Government of Iraq in preparing for the successor arrangements for the Development Fund for Iraq

11. In paragraph 4 of Security Council resolution 1905 (2009), the Security Council called upon the Government of Iraq to put in place the necessary action plan and timeline by 1 April 2010 and to ensure the timely and effective transition to a post-Development Fund mechanism by 31 December 2010 that takes into account the standby arrangement requirements of the International Monetary Fund, includes external auditing arrangements and enables Iraq to meet its obligations as established in the provisions of paragraph 21 of resolution 1483 (2003).

12. I welcome the second quarterly report of the Government of Iraq to the Security Council. The report provides an update on the action plan and timeline for the transition to the successor arrangements for the Development Fund.

13. In this respect, I am pleased that, in its second quarterly report to the Security Council, the Government of Iraq notes that, as at 15 June 2010, measures have been implemented in accordance with the plan presented in its first quarterly report, dated 18 March 2010 (see S/2010/308, annex,wr1).

14. The Government of Iraq has received confirmation from the Federal Reserve Bank of New York of continuation of the existing mechanism in place for the Development Fund for Iraq, to be effective after 31 December 2010. Accordingly, a sub-account for compensations will be established that allows the Government of Iraq to continue to deposit 5 per cent of the proceeds of all export sales of petroleum, petroleum products and natural gas.

15. I am encouraged that the Government of Iraq, in coordination with the recommendation of Committee of Financial Experts, will continue to select an independent international auditor that will be responsible for auditing the successor entity to the Development Fund.

16. With regard to the outstanding activities under the oil-for-food programme, of the 3,009 letters of credit referenced in the note attached to my letter of 1 May 2009 to the President of the Security Council (S/2009/230), 64 letters of credit, with an approximate value of $110 million, were still outstanding as at 31 May 2010.

As detailed in the note accompanying my letter of 7 December 2007 to the President of the Security Council (S/2007/725), beyond the letters of credit still outstanding as described above, the Secretariat had identified certain beneficiaries who had made claims of delivery prior to the expiry of the letter of credit and whose letters of credit had been cancelled. As mentioned in the note attached to my letter of 1 May 2009 to the President of the Security Council, I believe that, whatever option the Security Council may select for concluding all outstanding issues under the oil-for- food programme, these letters of credit should be treated in the same manner as the 64 letters of credit still outstanding. Therefore, the total number of letters of credit with outstanding claims of delivery as at 31 May 2010 would amount to 67 letters of credit.

17. I note that the Council of Ministers of Iraq has established the ministerial committee to review all of the outstanding letters of credit. In this respect, I wish to recall that the responsibility for the confirmation of the arrival of goods in Iraq was transferred to the Government of Iraq, effective as at 30 June 2004. I note, from its second quarterly report to the Security Council, that the Government of Iraq will provide the Secretariat with confirmation of the arrival of 26 outstanding letters of credit.

18. Absent the receipt by the Secretariat of the requisite confirmations of arrival of the remaining letters of credit, the Security Council may wish to consider cancelling those remaining letters of credit that have outstanding claims of delivery.

19. Irrespective of the manner selected by the Security Council for the closing of the oil-for-food programme, the conclusion of all issues outstanding should be subject to the provision by the Government of Iraq of a comprehensive indemnity with regard to all activities of the Organization, its representatives and agents in connection with the programme since its inception and with regard to the funds that have been transferred and will be transferred to the Development Fund for Iraq.

I would like to recall that the conclusion of the outstanding activities under the programme should also be subject to the availability of sufficient funds for the Organization to meet the costs and expenses that have been incurred or may be incurred in future in connection with the programme, including the costs and expenses associated with the winding down of the programme and the costs and expenses arising from the cooperation of the Organization with Member States in respect of investigations and proceedings related to the programme.

20. I would like to conclude by expressing my appreciation to the Government of Iraq for its efforts to fully implement the action plan as presented in its first report to the Security Council. At the same time, I urge the Government of Iraq to continue to meet the deadlines set in that report. I look forward to keeping the Council informed of the progress of the Government of Iraq in preparing for successor arrangements for the Development Fund for Iraq.

[EBJNYC]

Those are investments in Iraq or Iraq businesses. I have no idea why people buy and hoard dinar that has been smuggled outside of Iraq for speculation as there is no logical reason for the action other than they were conned into believing that that if they overpaid for dinar including commissions and shipping some poor Iraqi that makes on average $2200 a year is going to come along soon and give them a $1,000,000 for a $1,000 worth of dinar.

Since when are Chase, TD Bank, etc., SMUGGLERS -- cmon dude -- these are LEGITIMATE BANKS who sell dinar -- your point is WEAK. Since when does some "poor iraqi" who makes avg. $2200/yr going to MAKE PAYOUTS to speculators? PAYING OUT IS NOT SOME "poor Iraqis" JOB -- your statement makes no SENSE.

[EBJNYC]

Iraq is too much in debt, too poor, and too unstable.

So this makes Iraq a BAD INVESTMENT for the STOCK EXCHANGE as well.

[mike032588]

SA I always respected your posts but you are losing your mind or patience with this investments because Iraq has Virtually No debt America has 1000x more debt than Iraq.... Did your forget the Paris club? Or the fact that the CBI took 70% out of circulation....

[Screaming Eagle]

So this makes Iraq a BAD INVESTMENT for the STOCK EXCHANGE as well.

Maybe and Maybe not, markets go up and markes go down. Most people thought the US stock market was a bad investment in the thirties , however in the next 40 years it made millions of people rich. In 2008-2010 it made many people poor.

[EatAtJoes]

Since when are Chase, TD Bank, etc., SMUGGLERS -- cmon dude -- these are LEGITIMATE BANKS who sell dinar -- your point is WEAK. Since when does some "poor iraqi" who makes avg. $2200/yr going to MAKE PAYOUTS to speculators? PAYING OUT IS NOT SOME "poor Iraqis" JOB -- your statement makes no SENSE.

Not everybody gets it right EBJNYC and I'm in your camp. SE is smart, but like anybody else will get some things wrong.

Kind of reminds me of this guy:

http://www.youtube.com/watch?v=S98_eMax9xo

Though he's a smart man, he got it way wrong.
The crash DID happen, and Peter Schiff was right. Unfortunately Peter is a one trick pony as far as any future 'predictions'.
Even the "experts" get it wrong sometimes.

Though I 'salute' you SE and would even include you in the "expert' crowd, I think you will be proven wrong about a huge RV for the Iraqi dinar.

[Screaming Eagle]

SA I always respected your posts but you are losing your mind or patience with this investments because Iraq has Virtually No debt America has 1000x more debt than Iraq.... Did your forget the Paris club? Or the fact that the CBI took 70% out of circulation....

When?? The CBI says and states in its KFI that its dinar in circulation has grown every year since 2003. The CBI has never taken 70% of the dinar out of circulation, the economy would have collapsed and the economy could not expanded without a increase in the M2.
As for debt Iraq has been borrowing more and more and recently was listed on this forum as one of the 25 countries most likely to default.. IF you want to talk about debt default as it concerns Iraq ask any of its neighbors as it has a long history of default which is why they won't lend iraq any money.. You need to keep up with the news as Iraq is borrowing as much money as possible as they are running a thirty % budget deficit and are having to borrow money to make the difference. America has a thousand times more debt than Iraq however our GDP 14 trillion dollars while Iraq's is ~ 40 billion dollars. The US GDP is 350 times as large Iraq. The US GDP is presently growing at 1 1/2% a year which is $210 billion and four times the entire yearly GDP of Iraq. The US federal budget was 3,5 trillion in 2009. the entire Iraq GDP would only fund the US budge for ~ 5 days.

Iraq is presently seeking to borrow more money from Japan and their debt to GDP is ver high. Unless they can put aside their bickering and start to produce mass amounts of oil and start rebuilding the economy in earnest they will soon be broke and in default. Did you notice Iraq's oil exports of 1.9 m/b/d last month. It has not significantly increased in several years regardless of the hype. Also their are several forces that are working for their failure.

[EatAtJoes]

When?? The CBI says and states in its KFI that its dinar in circulation has grown every year since 2003. The CBI has never taken 70% of the dinar out of circulation, the economy would have collapsed and the economy could not expanded without a increase in the M2.
As for debt Iraq has been borrowing more and more and recently was listed on this forum as one of the 25 countries most likely to default.. IF you want to talk about debt default as it concerns Iraq ask any of its neighbors as it has a long history of default which is why they won't lend iraq any money.. You need to keep up with the news as Iraq is borrowing as much money as possible as they are running a thirty % budget deficit and are having to borrow money to make the difference. America has a thousand times more debt than Iraq however our GDP 14 trillion dollars while Iraq's is ~ 40 billion dollars. The US GDP is 350 times as large Iraq. The US GDP is presently growing at 1 1/2% a year which is $210 billion and four times the entire yearly GDP of Iraq. The US federal budget was 3,5 trillion in 2009. the entire Iraq GDP would only fund the US budge for ~ 5 days.

Iraq is presently seeking to borrow more money from Japan and their debt to GDP is ver high. Unless they can put aside their bickering and start to produce mass amounts of oil and start rebuilding the economy in earnest they will soon be broke and in default. Did you notice Iraq's oil exports of 1.9 m/b/d last month. It has not significantly increased in several years regardless of the hype. Also their are several forces that are working for their failure.

I agree with everything you said, but I reference Biblical prophesy. Though it may be my interpretation, it is clear "Babylon will fall, and where will the merchants of the earth sell their goods to?"

To me this implies a pop and a fizz.
Possibly a huge RV, big sugar high, then as you stated above conditions, all will collapse since the corruption is so huge and they will be spending like drunken sailors it will all come crashing down.
Who knows, just my theory and opinion.

[EBJNYC]

Maybe and Maybe not, markets go up and markes go down. Most people thought the US stock market was a bad investment in the thirties , however in the next 40 years it made millions of people rich. In 2008-2010 it made many people poor.

I rest my case -- same thing for DINAR HOLDERS. Engine and transmission --- SYNERGISTIC relationship --- currency and stock exchange --- if ONE FAILS -- THEY ALL FAIL. Based all on FUNDAMENTALS and SUCCESS of Iraq -- NO SEPARATION or ISOLATION for either strategy or component. If stock exchange bodes well -- currency will bode well, citizens bode well.

[TAV]

(previously) Maliki "During the remainder of 2009 and in 2010, we will take action to recover the international financial standing of Iraq while at the same time ~

Iraq wants UNSC to extend immunity for DFI beyond 2010

7/8/2010

UNITED NATIONS, - Ahead of a quarterly report by Secretary-General Ban Ki-moon on the Development Fund for Iraq (DFI) and a Security Council meeting on the issue next Monday ...

Iraqi Ambassador Hamid Al-Bayati met late Wednesday with the UN Chief to seek continued immunity for the Development Fund for Iraq (DFI) after it expires on December 31, 2010, and to inform him that his government decided to keep the Fund in the US Federal Reserve in New York with or without UN immunity.

"Iraq may need the council to extend the DFI (immunity) beyond December 2010. But even if an extension was not possible, Iraq is making arrangements for beyond December 2010. The Iraqi Government's decision is that the DFI remains in the US Federal Reserve in New York, under another name, and five percent of the Iraqi oil revenues will continue to be paid to the UN Compensation Fund, as usual, without changes," Al-Bayati told KUNA following the meeting. Ban recommended to the council in his report on the issue last April not to provide immunity to the Fund beyond 2010. UN immunity shields Iraq from its debtors.

The DFI was established by the council in 2003 to hold the proceeds of oil sales from Iraq and meet the country's humanitarian needs. It is being monitored by the International Advisory and Monitoring Board (IAMB) to ensure transparency. The council also decided in 2003 that five percent of the proceeds be deposited into the Geneva-based Compensation Fund to compensate the victims of Saddam's invasion of Kuwait in August 1990.

Al-Bayati said that in order to put an end to the DFI it created in 2003, the council has to meet again at the end of December and adopt another resolution.

"At that time, Iraq will be free to open a Fund anywhere, but the Government decided to keep the Fund in the US Federal Reserve in New York with the same arrangements, including the payment of five percent to the Compensation Fund. But I understand the successor Fund of the DFI will carry another name, since the DFI was a name given by the council," he said. The Iraqi Ambassador also said that the IAMB will also disappear with the DFI, adding that the successor Fund will be monitored by the Iraqi Committee of Financial Experts (COFE).

He added that COFE Chairman Abdelbasit Turki Said Al-Bayati is scheduled to address the council next Monday when the members discuss the issue.

The council voted unanimously last December to extend the DFI until December 31, 2010 and to review it in mid-year at the request of Iraq. It requested Iraq at the same time to put in place an action plan and timeline for the transition to a post DFI mechanism beginning 2011. The action plan and timeline were conveyed to the council recently in a letter by Iraqi Foreign Minister Hoshyar Zebari.

KUNA Jul

and ... another source same subject ~

08/07/2010م - ص مرات القراءة: 100 07/08/2010 - 10

To keep the Development Fund for Iraq under the name of another in the Treasury U.S. federal

The Ambassador of Iraq to the United Nations, Hamid al-Bayati, the UN Security Council here last night that Baghdad had decided to retain the Development Fund for Iraq in the U.S. federal treasury with the immunity of the United Nations to the Fund, which protect against creditors or without, which expire on Dec. 31.

The al-Bayati, told the Kuwait News Agency (KUNA) that "Iraq plans to keep the Development Fund for Iraq in New York with a different name and will continue to pay five percent of Iraq's oil resources to the United Nations Compensation Fund without any change."

Ban was recommended in his report on the issue of the Development Fund for Iraq last April not to provide immunity to the Fund during the period beyond December 2010.

Was established the Development Fund for Iraq in 2003 for the conduct of the sale of Iraqi oil is to Iraq's humanitarian needs and subject to the control and supervision of the international consultancy to ensure transparency.

Al-Bayati said in this context that the Security Council should convene a meeting to end the Development Fund for Iraq at the end of December and another resolution.

He said the fund, which will take a different name will not be subject to the control of body control and international consultancy, but the control of Iraqi committee composed of financial experts headed by Abdul Baset Turki, who is scheduled to deliver a speech at the Security Council next Monday in a meeting to discuss the issue of the Development Fund for Iraq.

The Security Council demanded that Iraq at a meeting to approve the extension of the Fund until the end of December at the request of Baghdad, an action plan and timetable for transition to post-end fund from 2011.

The Iraqi Foreign Minister Hoshyar Zebari, delivered the work plan and timetable for the Security Council earlier.

http://alforattv.net/index.php?show=...ticle&id=46625

Iraq is requesting Immunity for the "Development Fund for Iraq":

"Iraq wants UNSC to extend immunity for DFI beyond 2010"


It appears Iraq needs protection from the speculators and world markets!!

Iraq is requesting the extension, this doesn't appears to be any mandate!!!

Mike your right concerning the Paris club debt removal, but I don't believe their debt was completed removed!!

I never believe those Paris Club membering countries will wipe their books totally clean without receiving some sort of guarantee of settlement using another form of payment such as free gas, natural resources,etc,etc...!!

I believe some form of agreement was made behind closed doors encouraging those countries to forgive debts and now they are about to get burnt with all the corruption going on!!!

The entire world is looking to get a piece of Iraq!!!

[EBJNYC]

Education + Ego = RESTRICTION OF THOUGHT for some NOT all.

[EatAtJoes]

Education and Ego = RESTRICTION OF THOUGHT for some NOT all.

I had been looking for a short concise quote to sum that instance up nicely. Thanks!

[TAV]

Not wanting to form a government,

asking for protection and extending immunity for their DFI,

trying to destroy the CBI and their records!!!

They trying to get out unscaved by not paying anyone.......

FORGET ABOUT IT!!!!