PUKmedia on (AFP) 01/23/2012 12:14:03
The Special Representative of the Secretary-General of the United Nations in Iraq, Martin Koppel yesterday, said that Iraq and Kuwait, thinking to re-invest the remaining war reparations on Baghdad for the benefit of its southern neighbor, the Fund invests in Iraq.
Iraq continues to pay five percent of its oil revenues to the United Nations Compensation Fund to fill a $ 18 billion in compensation by the residual of Kuwait, which has long demanded that Iraqi leaders to reconsider this debt.
Koppel said that «there is a proposal on the table provides the remaining funds to invest in Iraq».
He added that «the kind of confidence, and the United Nations fulfilled its obligation, however, the money re-invested in Iraq for the benefit of the people of Iraq». He said «I think this is a good proposal, and the parties that they should hold negotiations about it».
Iraq has to pay about $ 34.3 billion dollars in compensation after the regime of Saddam Hussein’s invasion of Kuwait, of which about $ 25 billion went to Kuwait.
He appealed to Iraq since the overthrow of Saddam’s regime following the US-led invasion in 2003, Kuwait has repeatedly and other countries, to waive tens of billions of dollars as debt and reparations.
Iraq owes Kuwait around 16 billion dollars, which is a loan obtained by the former regime for war against Iran between 1980 to 1988.
Baghdad finally objected to Kuwait’s efforts to build a «port of Mubarak the Great» on the island of Bubiyan, which fears Iraq could cause strangulation of his sole source of navigation on the Gulf.