After paying all compensation to Kuwait… Has the Iraqi economy been liberated?
The Kuwaiti ambassador to Baghdad, Salem Al-Zamanan, confirmed that the United Nations Compensation Committee will issue a decision to permanently close the file of financial compensation between the two countries, after Iraq paid the last payment to Kuwait a few days ago.
Al-Zamanan indicated to the Iraqi News Agency (INA), on Saturday, that Iraq has fulfilled all the obligations imposed on it under Chapter VII of the United Nations Charter and relevant Security Council resolutions in 1991.
What are the implications for Iraq’s economic situation?
On this subject, the guest of the “Where is the Truth” program on Radio “Sputnik”, the economist Dr. Nabil Al-Marsoumi, says:
After it has paid all its compensation to Kuwait, Iraq must submit a request to the Security Council, in order to transfer it from Chapter VII of the Charter of the United Nations to the provisions of Chapter VI of the Charter, a subject that will liberate the Iraqi banking system and integrate it with the global banking system, and will also liberate the accounts Iraqi finances are with the US Federal Bank, because any financial returns in hard currency do not go directly to Iraq, but through the United States, so that compensation for Kuwait can be completed.”
Al-Marsoumi added: “Also, Iraq should submit a request to the UN Security Council to protect its money and deposits in the global banking system from the claims of private companies and some countries for compensation or other debts, as obtaining such a decision can free two billion dollars annually, used in development and investment, Which constitutes a strong boost to the Iraqi national economy , as the money was delayed until it reached the Iraqi Ministry of Finance, so the next government will be more fortunate than the current government.”