Adviser to the Prime Minister of Iraq announces the closure of the Kuwait war compensation file
Baghdad, more than 30 years after Iraq invaded Kuwait, closed the file for paying $52 billion in compensation, according to what was announced by the economic advisor to the Iraqi Prime Minister.
The official Iraqi News Agency quoted Mazhar Salih, the economic advisor to the Iraqi Prime Minister, as saying that “Baghdad has completed the compensation file related to the Kuwait war by paying the last dues of these compensations.”
He explained that Iraq paid a total of $52.4 billion, adding that “this amount is not small, as this amount is sufficient to build an electricity grid system that will revive Iraq for many years.”
An advisor to the Prime Minister of Iraq expressed his hope that the money that was previously earmarked for reforms will be spent on development projects link
After the end of his obligations..a law clarifies the mechanism for Iraq’s exit from the sixth and seventh items
Today, Thursday, legal representative Ali Al-Tamimi explained the mechanism for Iraq’s exit from .the sixth and seventh clauses of the United Nations Al-Tamimi told (Baghdad Today) that “Iraq was placed under Chapter VII of the Charter of the United Nations after entering Kuwait and invading its cities and under UN Security Council Resolution No. 666 in 1990,” noting that “this decision was followed by warnings, warnings and an economic siege imposed on Iraq.
Then, international sanctions came under Chapter VII, which weakened Iraq before international law, so Iraq became a country that is not allowed to conclude .agreements, import or export.
That is, it has become more like a caretaker government And he added, “After Iraq left Chapter VII in 2017, under Security Council resolution 90/23, but it entered Chapter VI due to the existence of belongings with Kuwait worth four and a half billion “.dollars in compensation to Kuwait for entering Iraq
And he continued, “After Iraq fulfilled all its obligations contained in Chapter VI. Today it ended these material obligations. Of course, the Iraqi government, Iraq’s representation at the United Nations, must notify the UN Security Council of that through Iraq’s representative at the United Nations. In order for the Security Council to issue a termination of Iraq and to separate Sixth and .Seventh Chapter altogether
He continued, “This matter has positive repercussions on the economy, so that the money that was deducted from oil imports to Kuwait will be part of Iraq’s financial reserves, and perhaps it “.will have positive effects on the Iraqi economy link
The Central Bank holds a seminar with banks
Under the patronage of His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhif, the Central Bank of Iraq organized a discussion seminar on the initiative to finance electricity generation systems from renewable energy.
The Deputy Governor of the Central Bank said: This initiative opened the door to developing the future of renewable energy in Iraq after coordination with the Ministries of Environment and Electricity.
The Central Bank of Iraq invited representatives of the concerned authorities in the two ministries, governmental and private banks, the Association of Banks and the beneficiaries of its initiative to attend the symposium and discuss the controls for expanding the use of electricity generation systems from renewable energy at the levels of domestic, commercial and industrial use, and financing it in installments for those wishing to benefit from it through an initiative approved by the Bank’s Board of Directors amounted to About a trillion dinars.
It is noteworthy that this initiative was launched under the auspices of the Central Bank of Iraq to alleviate the burdens of energy shortage on the citizen, reduce carbon emissions into the air and maintain a clean environment in Iraq.
Central Bank of Iraq
Source: Dinar Recaps
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