Kuwait Defers Final War Reparation Payment

By John Lee.

Finance Minister Hoshiyar Zebari (pictured) has said that Kuwait has postponed the final instalment of reparations for Iraq’s 1990-91 occupation until 2017.

The move, requested by Iraq, will help alleviate the cash crisis in Baghdad caused by lower oil prices and war with the Islamic State group (IS, ISIS, ISIL).

According to Reuters, this last tranche is also largest, worth $4.6 billion.

Nearly all the $52.4 billion in reparations has already been paid through Iraq’s annual allocation of 5 percent of crude oil exports to the U.N. Compensation Commission (UNCC).

(Source: Reuters)