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Sunday, February 5, 2017

TANK UPDATE, 5 FEB

KTFA:

Tank:  I posted this before, but wanted to take a moment to post it once again...to point out a few things that did not dawn on me when I read it last month.
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United Nations S/RES/2335 (2016)
Security Council Distr.: General
30 December 2016
16-23176 (E)
*1623176*
Resolution 2335 (2016)
Adopted by the Security Council at its 7854th meeting, on
30 December 2016
The Security Council,
Recalling its resolution 1958 (2010),
Acting under Chapter VII of the Charter of the United Nations,

1. Reaffirms its call in paragraph 2 of resolution 1958 (2010) for the
Government of Iraq to provide without delay payments referred to therein;
....
2. Authorizes the Secretary-General to continue to maintain the escrow
accounts authorized in paragraphs 3, 4 and 5 of resolution 1958 (2010) and to retain
the funds in those accounts until 30 June 2017, at which time all remaining funds
are to be transferred to the Government of Iraq;

3. Requests the Secretary-General to continue to pursue implementation of
paragraph 7 and other relevant aspects of resolution 1958 (2010);

4. Requests the Secretary-General to report on implementation of this
resolution no later than 30 March 2017 and with a final report three months after the
transfer of any remaining funds pursuant to paragraph 2 to the Government of Iraq,
unless otherwise authorized by the Security Council;

5. Decides to remain actively seized of the matter.
****
Paragraphs 4 & 5 of Resolution of 1958 talks about a total of $151M USD being held in escrow account that were to be released 31Dec2016. And THAT in my opinion was the rush to get the Kuwaiti PM up to Iraq to sign off on this amendment (basically extending the funds being held in escrow for another 6mo).

In my opinion, we could possibly be seeing Iraq under U.N.'s Chapter 7 for another 2-5 months. Understand, this is MY opinion. I could be wrong. I hope I am wrong.

I am only speculating what is being said in this UN Security Council Report from the 30 Dec 16 meeting (This was After meeting with Kuwait).

Now if you ask me, I'm not exactly sure why the funds will remain into escrow until 30Jun17. Maybe, that's when Iraq will be done with their repatriation payments to Kuwait.

Paragraph 4 goes on to speak about reporting implementation of this resolution NO LATER THAN 30March17 and with a final report three months after the transfer of any remaining funds.  <<== THIS is where the wording (IMO) gets a bit sliippery. What I gather, is that Iraq has until 30March to tie up the lose ends on payments with paying Kuwait back. And then a final report will be given around the 30Sept17 time frame, stating that they (Iraq) have made payments back to Kuwait according to this Resolutions 2335.

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GEM:  So post 199 is saying that The U.N still hasn't made a decision on officially lifting Iraq out of Chapter 7 yet, interesting

Dusti:  IMO....can happen in the blink of an eye!!!

PappaJ:  FOR ALL OUR SAKE BEST PRAY THEY DON'T UNTIL IRAQ RV'S!!!!!! TRUST IRAQ NOT NO BUT NOOOOOOO!!!! REMEMBER TIME AND TIME AGAIN IRAQ WAS GIVEN THINGS BASED ON THEIR PROMISES AND THEY NEVER DELIVER/ AS FAR AS ABADI HE IS A POLITICIAN NO DIFFERENT THAN THE REST/ TRUST IS EARNED SO EARN IT IRAQ ,YOUR STEALING AND MISAPPROPRIATION DAYS ARE OVER SO GET ON WITH IT!!!! remember Iraq is sovereign if you give them their get out of jail free card they could leave the rate at 1182 ,great for the Gov. of Iraq's politicians but the citizens of Iraq remain where they are in the hole and so does the rest of the world!!!PJ

BigSpringsTex:  EXACTLY!!!!  We DO NOT want Iraq out of chapter 7 until they get off their butt and RV their Currency or We're all screwed..   Sorry, but that's the truth. ..All IMO

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Aggiedad77:  We do know that currently Iraq is in arrears to Kuwait for war reparations for roughly $4.6 billion still owed.....this was to have been paid a few years ago in full at the rate they had been doing up to that time....then DAASH happened in 2014 plus oil prices took a nose dive and put a big hurt on them.....so Iraq went to Kuwait...and presumably to the UN and got a breather, at least from Kuwait, to cease payments until the end of 2016 I believe.....what I can't remember and this might be where WalkingStick or Don has some light to shed for us, did they again get a deferral on this payment balance until the end of 2017...

I seem to remember something shaking out of the tree on this but can't exactly remember.  When the original grace period was granted by Kuwait to Iraq I do not recall seeing any news article coming from the UN that would have said the same.....so not sure who all was in the loop for needing a hand in the approval process for that at the time.....not sure if this plays into what you have shared here Tank....just thought I would share what I know has happened over the past couple of years.  Aloha  Randy

Walkingstick:  Final tranche, deferred, too..... Jan 1st 2017 ..

Aggiedad77:  Thanks WalkingStick......do we know where things stand with their payment now since we are beyond that date.....I'm guessing we've seen nothing or you would have posted a link here with it......thanks again.

Walkingstick:  Unknown, myself.... I would have expected a line item ( allocation ) in the 2017 budget.. Although, a snippet from.... states (below)

interest on deferred payment agreements, interest on the restructuring of external debt structure of the Paris Club countries , interest on the restructuring of external debt structure on countries outside the Paris Club

Aggiedad77:  Thank you sir for this follow up.  Perhaps that snippet is pointing in that direction, as I believe the amount owed to Kuwait would fall outside the Paris Club agreement.....will be interesting to see what comes of this.

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The ProfessorIsIn:  If I recollect correctly, in...December?...there was a photo out after a meeting between Ministers from Kuwait and Iraq to resolve this reparations issue. In that photo, the two Ministers were shaking hands and the Kuwaiti Minister looked like he had eaten an entire truckload of canaries; that was not a fake politician's smile.

So let's play Hewlett Packard for a moment:  "What If" Kuwait received a truckload of Dinar instead of canaries for their reparations, and now they simply await the same event we do?

That solves a lot of problems, methinks. Doc / Prof

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