Iraq Ready to Resolve Debt Dispute with Kuwait

Iraq has intensified efforts to resolve its debt problems with neighboring Kuwait, in order to end the international restrictions imposed on the country following the invasion of Kuwait two decades ago, said Iraq’s deputy foreign minister.

Iraq was placed under United Nations’ Chapter 7 status in 1991 after Saddam Hussein invaded Kuwait.

Speaking to AKnews, Labid Abawi said, “Iraq is committed to the U.N. Security Council’s resolutions and works to close this dossier (of debts) as soon as possible.”

Iraq has paid off $30.1 billion so far but needs to pay another $22.3 billion.

The Chapter 7 terms have restricted Iraq efforts to equip the army to protect its borders and do not allow it to import certain chemicals and other items.

Kuwait has repeatedly refused to end Iraq’s Chapter 7 status saying Iraq first needs to pay off its debts fully, settle its territorial disputes with Kuwait and provide clear answers as to the fate of the Kuwaitis who went missing during the war.

(Source: AKnews, UN Compensation Commission)

(Photo: Kuwaiti oil fires, Desert Storm, 1991)

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