He told KUNA that the debts due from Iraq in favor of Kuwait are two pronged, compensations entailing from threats and intimidations by the defunct regime to invade Kuwait and its people and the debt due to Kuwait.
The Iraqi official said that the compensations’ order is regulated by the UN resolutions and Iraq cannot turn around any UN resolution but it would be possible "to work with Kuwait and the big powers either to cut down this discounted rate similar to such cases in the past or agree on any other solution approved by the Security Council." He underlined that his country has no other option but to stick to the UN resolutions or to the Iraqi constitution’s stipulations.
On other issues, he talked about the debts due from Iraq noting "As an Arab and Muslim I hope that the Arab and Islamic states would have the precedence in cutting or writing off these debts." In a nutshell he said "we have cut Iraq’s debts due to 54 world states by 100 percent or 80 percent, in other words USD 80 billion were written off, only dues to some trade creditors are still outstanding." Iraq, he concluded, has to comply with the International Monetary Fund (IMF) and the Paris Club resolutions or the Paris Club’s SBA agreement.
