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Iraq's money after the lifting of international protection

Shafaq Sources in the Iraqi Central Bank revealed that the international protection of Iraqi funds deposited in the Iraq Development Fund,…

obtained from oil exports will be raised by the end of June under the Security Council Resolution No. 1958
The effects of Security Council Resolution 1958 to lift the international protection of Iraqi funds, which allows creditors of Iraq to obtain their funds in accordance with judicial procedures which permit the reservation of Iraq's money, concerned many parties.
Close sources to the decision-making positions in the Iraqi government  believes that these concerns are no longer in place after the legal proceedings taken by the Central Bank of Iraq in a joint effort with the Ministry of Finance. The economic advisor of the prime minister has confirmed that the recent measures taken by the Central Bank of Iraq will be enough to protect the Iraqi money abroad but he did not reveal the nature of these proceedings.
The central bank had said earlier that "The Iraq problem with the debt incurred by him abroad, is with the trade creditors whose number is not known, pointing out that Iraq will form a ministerial committee to find ways to protect the funds abroad after the end of the immunity of U.S. for Iraqi funds late next June.

 

 

 

 

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