Iraq's Minister of Foreign Affairs, Mr. Fouad Hussein, announced Iraq's exit from Chapter VII of UN Charter after the UN Compensation Commission (UNCC) announced that Iraq had made the final reparation payment to Kuwait.
In a speech during a briefing at the UN Security Council on ending the Compensation Commission's mandate over Iraq's reparations to Kuwait, Mr. Hussein confirmed that Iraq has made the final payment amounting to $52.4 billion in total.
He underscored that Iraq fulfilled its obligations despite the difficult circumstances the country experienced because of it being on the frontline to confront Daesh terrorist group and liberate Iraqi cities.
Mr. Hussein congratulated the Iraqi people on ending these international obligations, and Iraq's exit from Chapter VII of the UN Charter.
Mr. Hussein indicated that the Government of Iraq considers the fulfilment of its international obligations towards the international community and the State of Kuwait as a major development that shall strengthen Iraq's relations with countries in the region and across the world.
Representatives of countries present at the UN Security Council briefing commended Iraq for its remarkable cooperation in fulfilling its obligations and showing good neighbourliness.
(Source: Government of Iraq)
Will this change the value of the Iraqi dinar