Beginning of the countdown to the end of U.S. protection for Iraqi funds


BAGHDAD / JD / .. only 39 days away from the end of U.S. protection for Iraqi funds deposited in international banks, which is that Iraq has failed to convince the Obama administration to extend the protection will be vulnerable to looting by the judge of compensation claims and described Eadah according to the CBI. Economic Committee of the Iraqi Council of Ministers resolution calling on the Prime Minister and the Foreign Ministry to address the U.S. President Obama about the possibility of extending the protection period for the money another year. And held a special ministerial committee to develop a mechanism to ensure the protection of Iraq's money in its twentieth meeting on Wednesday morning under the chairmanship of Deputy Prime Minister Dr. Roژ Nuri Shaways and the presence of ministers of finance and oil, Justice and President of the Office of Financial Supervision and Governor of Central Bank of Iraq and Clai and Foreign Ministries of Planning and Legal Adviser to the Prime Minister and Advisor to the Deputy Prime Minister . The Committee deliberated the procedures and steps to be pursued to protect Iraqi funds and assets deposited abroad, especially with the imminent expiration of the protection provided by the U.S. presidential decision for the money and assets until next May. The Commission adopted a series of resolutions and recommendations to be working out in the forefront of a recommendation to the Council of Ministers to submit a formal request on behalf of the Government of the Republic of Iraq through the Ministry of Foreign Affairs to the U.S. government to adopt a resolution a new presidential provides protection for Iraqi funds for a new year with effect from 20 May 2012, according to the Bank CBI, decision to the United States President Barack Obama, put the Iraqi funds abroad, under American protection, and to prevent any judicial decisions to freezing or seizure under the presence of compensation claims and the resolutions of the debt raised by companies and people, and this protection will continue until the 20 of May next. He estimated the central bank the size of these funds as large, there are several billion dollars are distributed in a number of countries, in addition to money the Iraqi Development Fund, which contains revenue from the sale of oil that vary between 816 billion dollars, and there is also a $ 52 billion, money belonging to the Central Bank placed in banks U.S. cover of the Iraqi currency is not subject to the decisions of the freeze. Central Bank confirmed the words of his deputy, the appearance of Mohammed Saleh, said that Iraq is able to protect his money abroad and own all the ways the defense to stand against some of the exploiters of the situation in Iraq, and what happened after 1990 to file a lawsuit malicious compensation in large amounts, stressing that Iraq is not responsible for the policies committed the former regime, and the follow-up it confirms that most of these cases were unjustly.