The last Dinar Speculation article talking about Chapter 7 and why Kuwait would not want to let Iraq out of Chapter 7 is being confirmed with a few new articles released today. See the original article on DinarSpeculation and make comments here.
Iraqi parliamentarians urge Kuwait to reconsider it’s stance, but Kuwaiti FM is viewed as closing the door on those talks. Link to Alsumaria Ariticle.
Iraq asks Kuwaiti officials to reconsider it’s position on Iraq’s debt to Kuwait, Kuwait does not agree with the proposals – Alsabaah Google Translated page.
Will Iraq get any support from Kuwait to get out from under Chapter 7? Our opinion is “not anytime soon”. Iraq currently owes Kuwait about $25 billion. Iraq’s debt to the world as of 2008 was over double that, but many countries have forgiven Iraq’s debts in favor of investment opportunities and growth of the country. Kuwait has not decided to join that club.
Related posts:
Kuwait reiterates refusal to end sanctions on Iraq
Baghdad, July 27, P. 1
Government and Parliament’s good intentions of dialogue with Kuwait at all fields, faced with inflexible positions reflected some Kuwaiti officials’, especially foreign minister Mohamed Al-Sabah, determination to keep Iraq under 7th Chapter and worsening bilateral relationships.
While some MPs called Kuwait to review this attitude, a member of legislative foreign relations committee disclosed that most blocs refused Speaker’s proposal to create fund which transforms compensations to investments, as they considered reviewing these compensations as best way to resolve the problem.
Iraq will be released from chapter 7, kuwait can not stop it even it wanted to, it will happen soon.
Does Kuwait or any one individual country have that much influence as to Iraq being released from Chapter 7???. Surely everything that has happened to the good since 2003 will be a complete waste of time if they are not released. All the soldiers that have given their lives on Iraqs behalf will be turning in their graves.
I think Kuwait is playing hard to get. They want to get the best possible deal out of this since Iraq owes them so much money.
What ever has to be done DO IT and get the show on the road. And get that Dinar revalued. We all waiting and the world needs this to happen real soon
I am new to all of this but my question is. Does the chapter 7 have to be lifted before the dinar can revalue?
When are they voting on Chaper 7-it seems to be going on for ever.
I believe that Iraq will eventually offer Kuwait a way to compensate their debt so that all will come away better off. There is no reason not to as the oil market is going to push everything soon. I think that as soon as possible Iraq will try to revalue the dinar what with all the rebuilding and reconstruction of Iraq they are unable to do everything with their Dinar at such a low value. Look back to Mexico 20 or so years ago the peso fell to nothing but they’ve come up.
Kuwait, is still mad over the invassion of Iraq- but will
make steps to release the dbte