Iraq signs agreement to settle its debts with Saudi Arabia (15 billion dollars), Saudi Arabia demanding payment of debts amounting to 40 billion dollars with interest 04/12/2008 Thursday Jabr, speaking of Iraq's debt to Saudi Arabia and said he is 15 billion dollars, Saudi Arabia says it is owed by Iraq of 40 billion dollars. Jabor said that Saudi Arabia seeks the benefits of Iraqi debt
Revealed Finance Minister Bayan Jabr Iraq is rid of most of its debt and the remainder "of Iraq's debt but four states and some private sector companies ... First, Poland debt worth 2.5 billion dollars
"He said." We have taken all measures to settle the debt with Poland ... Remained only a political decision (Polish) to settle the matter and we hope that soon, for the settlement agreement. "
Jabr, speaking of Iraq's debt to Saudi Arabia and said he is 15 billion dollars, Saudi Arabia says it is owed by Iraq of 40 billion dollars.
Jabor said that Saudi Arabia seeks the benefits of the debt Iraq despite the continued presence of a paragraph in the three conventions signed between the two countries during the Iran-Iraq war states are not subject to any benefits of debt relief and said, "So that we reject any benefits contrary to the Convention."
A reparation for negotiations by Iraq with Kuwait and the UN Security Council to persuade them to reduce the rate of five percent is being deducted from the sale of Iraqi oil in payment of compensation owed to Kuwait.
The United Nations under Security Council resolution to deduct a specific percentage of the value of sales of Iraqi oil pay in compensation for Iraq's invasion of Kuwait in 1990.
"We started negotiations with Kuwait to reduce the ratio to one percent and we hope that the Security Council respond positively to the requests for Iraq because it affects the Iraqi people and especially with the current low oil prices."
"There are some countries of the Security Council has sent positive signals in this regard .. and Kuwaitis are ready to respond to these demands
Said Finance Minister Bayan Jabr on Wednesday that the global financial crisis and the decline in oil prices will not affect next year's state budget, but the continuing crisis will have significant repercussions on Iraq in 2010 and 2011 did not reach the ways to increase financial returns.
Jabor said in an interview with Reuters that the reduction of world oil prices to below fifty dollars a barrel "will not affect the budget for Iraq in 2009 because of a surplus of the current fiscal year, an estimated five and ten billion dollars surplus will be used to cover the deficit for next year and cover the drop in oil prices. "
He stressed that Iraq can stand the pressure of the global financial crisis and oil prices fell for a year but "I say explicitly that we will face a severe crisis in 2010 if the crisis continued."
The Iraqi minister pointed out that the best solution to address the crisis is to increase the rates of export of Iraqi oil in Iraq currently exports about 1.7 million barrels of oil a day.
"I think that element basis for facing this crisis is to increase the export of Iraqi oil .. I call on the Ministry of Oil to start thinking seriously to increase oil exports in 2009 to 2.5 million barrels a day."
And demanded redress open to the investment world oil companies to start investing in the oil sector in Iraq and said "This is the best solution to address the crisis and without Snqa in a prohibited Emasineks negatively on everything in the budget in 2010."
He said Iraq is considering other alternatives to increase the funds available with the continuing decline in world oil prices, including the establishment of Iraq early next year put a new bid to introduce a fourth company to work in the communications sector for the third generation of mobile phones.
Iraq had last year signed a one-year contract with three mobile phone companies for work in Iraq which happened at about four billion dollars, the minister said, "We expect to get 1.5 billion dollars worth of leave-fourth the total will be 5.5 billion dollars, money will be used for next year's budget. "
He added that the total participants in the mobile phone companies in Iraq reached 15 million common "We believe that the presence of a fourth company will contribute to solving the problem of communication and mobile phone in Iraq."
Jabr said that among the alternatives being examined by Iraq to increase revenue for next year approved tax law, customs duties and lease a number of state-owned factories to the private sector for 15 years, a move the Iraqi minister said: "It precedes the stage of privatization."
He denied the existence of any trend to privatize the Iraqi banking system and said "we have no idea now in the privatization of the banking sector in Iraq .. We have the idea of rehabilitation, a process that precedes the process of privatization and lease of a number of government institutions to Iraqi and foreign companies for 15 years."
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Subject: Iraq signs agreement to settle its debts with Saudi Arabia (15 billion dollars), Saudi Arabia demanding payment of debts amounting to 40 billion dollars with interest 
Thu 4 Dec 2008 - 7:46
