Saturday, June 11, 2016

ELMERF123456: This is colossal news !, 11 JUNE

Iraq agrees to the International Monetary requirement to pay debt of Kuwait to receive 20 billion loan
Since 06/11/2016 12:30 (Baghdad time)

Special - balances News
Confirmed member of the Committee of Economy and Investment parliamentary Najiba Najib, said Saturday that Iraq will be given to the State of Kuwait debts of nearly 9 billion dollars, while noting that the government obtained a loan from the International Monetary Fund to support the budget for the next two years.
She said Najib's / balances News /, that "the agreement between Iraq and the International Monetary Fund estimated" 20 "billion dollars, including compensation payments to Kuwait," she said, adding that "in the past has been postponed this compensation for two consecutive years due to the inability of the Iraqi government paid of Kuwait. "
She added, "The (13.6) billion for budget support will be in the country for 2016 and 2017 and 2018," pointing out that "(6.9) billion dollars will be allocated to pay off the debt of Kuwait."
She added that "Iraq has to pay more than 55 billion to Kuwait," pointing out that "it was to reach a result that gives the International Monetary Fund to Iraq these amounts to be paid to the state mentioned."
She pointed out that "these amounts will be paid in the form of easy installments," indicating that "these loans have a negative impact on Iraq's economy" .anthy
From: Nur al-Din Wahba   http://www.mawazin.net/العراق-يوافق-على-شرط-النقد-الدولي-بدفع-ديون-الكويت-لتسلم-قرض-ال20-مليار
this is why it's HUGE!
When the Iran–Iraq War broke out, Kuwait initially stayed neutral and also tried mediating between Iran and Iraq. In 1982, Khomeini openly attempted exporting the Iranian Revolution to Kuwait.[citation needed] As a result, Kuwait supported Iraq in order to prevent Iranian hegemony in Kuwait. In 1982–1983, Kuwait began sending significant financial aid to Iraq. Kuwait's large-scale economic assistance to Iraq often triggered hostile Iranian actions against Kuwait. Iran repeatedly targeted Kuwaiti oil tankers in 1984 and fired weapons at Kuwaiti security personnel stationed on Bubiyan island in 1988.[18] During the Iran–Iraq War, Kuwait functioned as Iraq's major port once Basra was shut down by the fighting.[19] However, after the war ended, the friendly relations between the two neighbouring Arabcountries turned sour for several economic and diplomatic reasons that culminated in an Iraqi invasion of Kuwait.
By the time the Iran–Iraq War ended, Iraq was not in a financial position to repay the US$14 billion it borrowed from Kuwait to finance its war and requested that Kuwait forgive the debt.[9] Iraq argued that the war had prevented the rise of Iranian hegemony in Kuwait. However, Kuwait's reluctance to pardon the debt created strains in the relationship between the two countries. During late 1989, several official meetings were held between the Kuwaiti and Iraqi leaders but they were unable to break the deadlock between the two.

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