Iraq and Kuwait are considering the investment of money damages

by **ADMIN** Mon Jan 23, 2012 8:38 am

Iraq and Kuwait are considering the investment of money damages
Posted 23/01/2012 08:05 AM

BAGHDAD - Babinaoz (Reuters) - UN envoy to Iraq, told AFP that Iraq and Kuwait, thinking to re-invest the remaining war reparations on Baghdad for 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.

Said Martin Koppel Special Representative of the Secretary-General of the United Nations in Iraq that "there is a proposal on the table provides the remaining funds to invest in Iraq."

He added that "in that kind of confidence, and the United Nations has fulfilled its obligation, however, the money re-invested in Iraq for the people of Iraq."

"I think that this is a good proposal and the two parties to hold their 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 toppling of Saddam Hussein after the invasion led by the United States 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 regime of Saddam Hussein for his war against Iran between 1980-1988.

Baghdad has recently objected to efforts to build the port of Kuwait, Mubarak Al-Kabeer on the island of Bubiyan and feared that Iraq would cause strangulation built in his sole source of navigation on the Gulf.

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