The Iraqi Ministry of Finance discussing the means to protect the central bank reserves and the mechanism of debts payment
October 20, 2008
The Information Office Director Adnan Abdul Rahman, stated to "al Sabah", the minister met on Thursday in Washington with the legal consultant of the Ministry of Finance and the Iraqi Central Bank Governor Sinan Al-Shabibi and Legal Consultant to the Prime Minister Dr. Fadhil Jawad, to discuss the issue of protecting the reserves in the central bank and government registered assets in the Development Fund for Iraq, and to reconsider a mechanism to diversify the investment of reserves, adding that the meeting debated the impact of lawsuits files in the United States by American citizens affected by the former regime procedures and the legal remedies, and the volume of claims made by the judicial decisions against the Iraq Central Bank and Al Rafidain and Al Rashid Banks and their impact on the Iraqi assets and how to deal with it, adding that the legal consultants had submitted a schedule of claims that can be identified so far and how to deal with them, in addition to the payment of some States benefits that have signed bilateral agreements with them to settle their debts which should be paid in 2009, stressing that it was agreed on the proposed mechanisms in this regard.(Source)AlSaba