Results 1 to 5 of 5

Thread: $ 68 billion .. Iraq's debts to the world

  1. #1
    Join Date
    Dec 2004
    Posts
    9,858

    Default $ 68 billion .. Iraq's debts to the world

    .
    $ 68 billion .. Iraq's debts to the world



    Posted 15/09/2011 07:51 AM

    BAGHDAD - Babinaoz announced BSA, that Iraq's debt to the world of more than $ 68 billion, calling on the government to find a quick solution to the problem of indebtedness before the completion of immunity and protection to the Development Fund of Iraq, confirmed that this problem is not only financial but political.

    The head of the Office of Financial Supervision Abdel Basset Turki said that "the debt owed ​​by Iraq to the world at the present time of more than $ 68 billion," noting that "between 18 to 19 billion dollars of this debt back to the countries of the world, while the rest of of about $ 50 billion commercial debt for companies and traders. "

    And called on the Turkish government to "find a quick solution to the problem of indebtedness, before the completion of immunity and protection to the Development Fund of Iraq, which shall be the revenue of Finance of Iraq," noting that "despite the pursuit of the Ministry of Finance to resolve the debt problem, but this problem is not just financial , but there is a political strain in the international environment on the debt. "

    The Turkey that "the Iraqi Central Bank is currently managing the Development Fund of Iraq, and under the supervision of an independent panel of financial experts and Mahasbeyen Iraqis after they were received fund from the United Nations in the thirtieth of last June," pointing out that "Iraq maintains the fund in the Treasury U.S. federal with the presence of immunity from U.S. law, presidential. "

    Iraq had managed to write off $ 100 billion of Paris Club debt of $ 140 billion dollars, after he signed individually with some of these nations Convention on the Reduction of debt to Iraq and 80 percent of them, as happened with the others to write off 100% of their debt.

    The Paris Economic Club, an informal group of financiers from 19 countries of the world's richest countries, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, United Kingdom, which provides financial services such as debt rescheduling and relief, and abolition of debtor and creditor countries.

    The Advisor to the Governor Central Bank of Iraq in August of last year, that 54 foreign state and an Arab from outside the Paris Club continues to adhere to its debt to Iraq, noting that Iraq has managed to write off some debts from outside the Paris Club by 100% of the United States, Cyprus and Malta and the UAE, as could also cancel the debt of more than 13 thousand commercial creditors amounted to 23 billion to cope with their debts and $ 500 million.

    There is a concern that some creditors to seize the Iraqi funds in the event of lift protection on the Development Fund for Iraq from the Reserve Bank of American.

    Iraq seeks to cancel the debts it incurred during the period of the previous regime, which was estimated then at more than $ 120 billion in compensation to some of them back, because of the wars waged on its neighbors and some other countries and traders.
    "we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar" - Dr. Shabibi

    I just did my job...You either get them out alive or you die trying. If you don’t die trying, you didn’t try hard enough." - Marine Sergeant Dakota Meyer, Medal of Honor recipient

  2. #2
    Join Date
    Dec 2004
    Posts
    9,858

    Default Audit: Iraq's debts of more than $68

    .
    Audit: Iraq's debts of more than $68 billion

    By: Bian1
    On: Wed, 15/09/2011 11:04
    Baghdad, WAP

    Announced the Board of Supreme Audit, Wednesday, that Iraq's debt to the world of more than $68 billion, calling on the government to find a quick solution to the problem of indebtedness before the completion of immunity and protection to the Development Fund of Iraq.

    The Court Chief Abdul-Basit Turki said in press statements yesterday that "the debt owed by Iraq to the world at the present time of more than $68 billion," noting that "between 18 to 19 billion dollars of this debt back to the countries of the world, while the the rest of the nearly $50 billion commercial debt for companies and traders."

    Iraq had managed to write off $ 100 billion of Paris Club debt of $ 140 billion dollars, after he signed individually with some of these nations Convention on the Reduction of debt to Iraq and 80 percent of them, as happened with the others to write off 100% of their debt.

    The Paris Economic Club is an informal group of financiers from 19 countries of the world's richest countries, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russia, Spain, Sweden , Switzerland, United Kingdom, which provides financial services such as debt rescheduling and relief, and abolition of debtor and creditor countries.

    And called on the Turkish government to "find a quick solution to the problem of indebtedness, before the completion of immunity and protection to the Development Fund of Iraq, which shall be the revenue of Finance of Iraq," noting that "despite the pursuit of the Ministry of Finance to resolve the debt problem, but this problem is not just financial , but there is a political strain in the international environment on the debt."

    The Turkish "The CBI is currently managing the Development Fund of Iraq, and under the supervision by an independent panel of financial experts and Mahasbeyen Iraqis after it has been receiving fund from the United Nations in the thirtieth of last June," pointing out that "Iraq maintains the fund in the Treasury U.S. Federal with immunity from the law before the U.S. presidential."

    The Advisor to the Governor Central Bank of Iraq in August of last year, that 54 foreign state and an Arab from outside the Paris Club continues to adhere to its debt to Iraq, noting that Iraq has managed to write off some debts from outside the Paris Club by 100% including the United States of America and Cyprus and Malta and the UAE, while also able to cancel the debt of more than 13 thousand commercial creditor debts amounted to 23 billion towards him and $500 million.

    And shape of Iraq to Iraqi committee by resolution of the UN Security Council in 2006, made up of 15 members of Iraqi economists independent chaired by the President of Supreme Audit to match control committee established by the Security Council from some experts in the International Monetary Fund and the World Bank and the Social Fund, the Arab to monitor the resources of Iraq's oil and good use for the benefit of the Iraqi people have I discussed the Committee on 12 July of the current with the UN Security Council on the transfer of the Development Fund for Iraq.
    "we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar" - Dr. Shabibi

    I just did my job...You either get them out alive or you die trying. If you don’t die trying, you didn’t try hard enough." - Marine Sergeant Dakota Meyer, Medal of Honor recipient

  3. #3
    Join Date
    Jan 2009
    Location
    Wolverhampton
    Posts
    590

    Default

    Wowee big deal, no kidding, Iraq owing the world 68 billion ! They do have one or two barrels of assets underground, as if we didn't know !

    It's like me owing somebody 10 quid, when I have about 50 grands worth of gold/silver - for godsakes, somebody oughta get a sense of perspective !
    Last edited by TheZeppyWanderer; 09-15-2011 at 04:16 PM. Reason: typos

  4. #4
    Join Date
    Oct 2007
    Posts
    1,331

    Default

    Don't forget, Iraq still has on going costs also, that Oil in the ground has no value till the Oil companies(the ones that really run iraq) extract it, refine it and ship it....

  5. #5
    Join Date
    Mar 2008
    Location
    In some dimly lit cellar
    Posts
    2,473

    Default ***GOOD READ..."Iraq's debt to world more than $ 68 billion" ***

    By aliraqnews2
    الخميس, 15 سبتمبر 2011 13:26
    Thursday, September 15, 2011 13:26
    BAGHDAD: BSA, that Iraq's debt to the world of more than $ 68 billion, calling on the government to find a quick solution to the problem of indebtedness before the completion of immunity and protection to the Development Fund of Iraq. The Court Chief Abdul-Basit Turki said that the debt owed by Iraq to the world at the present time of more than $ 68 billion, "noting that" between 18 to 19 billion dollars of this debt back to the countries of the world, while the rest of close to 50 billion dollars of credit to businesses and merchants. "Iraq has managed to write off $ 100 billion of Paris Club debt of $ 140 billion dollars, after he signed individually with some of these nations Convention on the Reduction of debt to Iraq and 80 percent of them, as happened with the others to write off 100% of its debt. The Paris Economic Club is an informal group of financiers from 19 countries of the world's richest countries, including Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Ireland, Italy, Japan, Netherlands, Norway, Russia, Spain, Sweden, Switzerland, United Kingdom, which provides financial services such as debt rescheduling and relief, and abolition of debtor and creditor countries. and called on the Turkish government to "find a quick solution to the problem of indebtedness, before the completion of immunity and protection to the Development Fund of Iraq, which shall be deposited the financial revenues of Iraq, "noting that" despite the effort of the Ministry of Finance to resolve the debt problem, but this problem is not only financial, but there is pulling a political international environment on the debt. "said Turki that" the Iraqi Central Bank is currently managing Development Fund for Iraq, and supervised by an independent panel of financial experts and Mahasbeyen Iraqis having been received fund from the United Nations in the thirtieth of last June, "pointing out that" Iraq maintains the fund in the Treasury U.S. Federal with the presence of immunity by law, the American presidential. " The Advisor to the Governor Central Bank of Iraq in August of last year, that 54 foreign state and an Arab from outside the Paris Club continues to adhere to its debt to Iraq, noting that Iraq has managed to write off some debts from outside the Paris Club by 100% including the United States of America and Cyprus , Malta, UAE, as could also cancel the debt of more than 13 thousand credit trading hit their debts towards him 23 billion and $ 500 million. and shape of Iraq to Iraqi committee by resolution of the UN Security Council in 2006, made up of 15 members of Iraqi economists independent chaired by the President of Supreme Audit the financial equivalent of the Oversight Committee established by Security Council by some experts in the IMF and the World Bank and the Social Fund, the Arab to monitor the resources of Iraq's oil and good use for the benefit of the Iraqi people have I discussed the Commission on 12 July together with a UN Security Council on the transfer of the Development Fund for Iraq. The President Barack Obama decided last May for the extension of American protection to the Development Fund in Iraq for another year, citing the reason as "obstacles" that stand in the way reconstruction in an orderly fashion in Iraq, and restore peace and security in the country and maintenance, and development of political and administrative institutions and economic development in Iraq . Iraq seeks to cancel the debts incurred during the period of the previous regime, which was estimated then at more than $ 120 billion and there are fears that some creditors to seize the Iraqi funds in the event of lift protection on the Development Fund for Iraq by the Reserve Bank of the United States. The UN Security Council issued a decision No. 1483 of May 2003, authorized him to power management and conservation of Iraq's oil revenues to Iraq development fund was also established the International Advisory and Monitoring to monitor its implementation, and status of the Fund under the auspices of the United Nations to prevent the depletion of these funds by the countries that were payable to the former regime. shall be deposited in the "Development Fund for Iraq," all the revenues from Iraqi oil exports and the United Nations withdraw from the revenue of 5%, the compensation awarded to Kuwait for the 1991 war with the Ministry of Finance to pay all debts of Iraq before the receipt of government oversight on the "Development Fund for Iraq

    http://translate.google.com/translat...%26Itemid%3D26
    Last edited by TAV; 09-18-2011 at 09:33 PM.
    "In brightest day, in blackest night, no evil shall escape my sight! Let those who worship evil's might, beware my power.. Green Lantern's light!"

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •