Iraq ready to resolve debt dispute with Kuwait

Iraq ready to resolve debt dispute with Kuwait, official says

Tuesday, August 24th 2010 11:29 AM



Erbil, Aug. 24 (AKnews) - Iraq has intensified its efforts to resolve the dossier of its debts to neighboring Kuwait in order to end the international restrictions imposed on the country following the invasion of Kuwait two decades ago, said Iraq’s deputy foreign minister.

Iraq was placed under United Nations’ Chapter 7 status in 1991 after Saddam Hussein invaded Kuwait.

The international organization declared Iraq a threat to international peace and security and imposed certain limitations on the country.

Speaking to AKnews, Labid Abawi said, “Iraq is committed to the U.N. Security Council’s resolutions and works to close this dossier (of debts) as soon as possible.”

Iraq has paid off nearly $30 billion so far but needs to pay another $22 billion dollars.

The Chapter 7 terms have restricted Iraq efforts to equip the army to protect its borders and do not allow it to import certain chemicals and other items.

Kuwait has repeatedly refused to end Iraq’s Chapter 7 status saying Iraq first needs to pay off its debts fully, settle its territorial disputes with Kuwait and provide clear answers as to the fate of the Kuwaitis who went missing during the war.



http://www.aknews.com/en/aknews/2/176597