Iraq and the protection of funds abroad.
For anyone who has followed Iraq's progress and witnessed how far they have come, you'll find the timeline below interesting.
If you will recall, in 2009 and 2010 Iraq reported that they were going to open accounts for the transfer of their funds from the existing development fund to a private account.
It was reported in 2009 that they would keep their funds in the U.S. Federal Reserve Bank under a different name (remember what a big deal that was and also reassuring).
Anyway, It's awesome to know that Iraq is approaching the finish line. The next step we are waiting for is the response and approval from the United Nations on the report submitted regarding the 2 new bank accounts and the UN Development Fund for Iraq. (kel)
Link ~ Iraq and U.S. Bank Accounts ~ The Iraqi government opened two accounts at a U.S. bank for the deposit of oil money ...
Link ~ *** Council of Ministers Approved the gov't report on the Development Fund for Iraq ~ United Nations, IMF, Arab Monetary Fund Meeting in Paris ...
_TIMELINE_
*** August 28, 2003 Executive Order 13315 ~ Blocking Property of the Former Iraqi Regime and transfer to the Development Fund for Iraq ...
2009 ~ IRAQ - SECURITY COUNCIL EXTENDS DEVELOPMENT FUND FOR ONE MORE YEAR (IT'S A GOOD THING) ...
March 2010 ~ Iraq Committee for Chapter 7 ~ Council of Ministers Decisions (#10 - protection of Iraqi Funds)
May 2010 ~ Financial control: to study the possibility cope with the transition from the Development Fund for Iraq to an alternative system ...
July 2010 ~ ***Maliki "During the remainder 2009 and in 2010, we will take action to recover the international financial standing of Iraq while at the same time ~ and also July 2010 ~ ***Maliki "During the remainder 2009 and in 2010, we will take action to recover the international financial standing of Iraq while at the same time ~
July 9, 2010 ~ DFI will remain in NY Federal Reserve Bank beyond Dec. 2010 (note: same report, different source) ... and July 10, 2010 ~ Ban Ki-moon ~ Report: Iraq's Development Fund ... and July 21, 2010 Iraq is Nearing the Development of Mechanisms to Protect their Money Abroad ... and July 25, 2010 ~ The Security Council agrees to transfer the management of «Development Fund for Iraq to the government authorities ...(different source)...
August 15, 2010 ~ The Iraqi Government's decision is that the DFI remains in the US Federal Reserve in New York, under another name, and five percent of the Iraqi oil ~ and August 2010 ~ Looking good ~ Iraq Chapter 7 ~ Iraqi Government: We will go out of the seventh item and look for an alternative to protect our money ...
September 2010 ~ More Chapter 7 ~ The Iraqi government develop a plan to protect the funds of the country abroad and September 9, 2010 ~ Iraq argues that it can’t be fully independent while it is still under Chapter 7 ~ Iraq to pay $400 million for Saddam's mistreatment of Americans ~
October 2010 ~ Iraq will protect his assets abroad the end of 2010 ... and October 15, 2010 ~ *** Oct. 14-15th ~ The Financial Control Mechanism to Recover Iraqi Funds with the Assistant Special Inspector General for Iraq Reconstruction ... and October 16, 2010 ~ UNITED NATIONS AND IRAQ ~ Minister of Finance calls to extend the mandate of the United Nations on Iraqi funds ... also ~ Financial demands to extend the mandate of the United Nations on Iraqi funds
November 2010 ~ Snip Fund a provision to the effect that the Government of Iraq will not be liable for such claims after June 2011 ~ Iraq and the United Nations ~ Most UNSC Members Oppose Iraq's Request to Extend Immunity to DFI ...
December 19, 2010 ~ Letter from Maliki to President of UN Security Council "A plan of action after the Development Fund for Iraq" (Extends Fund Protection 'til June 2011)
January 2011 ~ June 2011 ~ Iraqi Finance: Committee to Protect Iraqi funds would be its secret ...
February 3, 2011 ~ Before May 1st, 2011 ~ Baghdad Readies to Protect Overseas Funds ...
February 25, 2011 ~ Iraqi bank revamps banking ~ Protection of Funds Abroad ~ Chapter 7, etc. ...
April 2, 2011 ~ Iraq's Currency Protection ~ Mechanisms for the protection of foreign funds after June ... and also ~ May 25, 2011 Budget Due ~ Iraqi Finance Works to Protect State Funds After the Lifting of Protection and .. May 5th Deadline ~ Iraq's money under threat after lifting its international protection in May next and .. June 2011 ~ Iraqi economy is starting from next June and a clear movement ...
and .. *** Before May ~ Iraq, UN, IMF: UN report to be submitted ~ Iraq will use IMF funds to close the file of debt ~ June 30th ends protection of funds
April 26, 2011 ~ *** Iraq, U.S. and UN ~ Iraq will open two accounts in the United States for the filing of its oil revenues
April 27, 2011 ~ Iraq and U.S. Bank Accounts ~ The Iraqi government opened two accounts at a U.S. bank for the deposit of oil money ...
April 27, 2011 ~ *** Council of Ministers Approved the gov't report on the Development Fund for Iraq ~ United Nations, IMF, Arab Monetary Fund Meeting in Paris ...
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