Rabu, Juli 23, 2008

United Arab Emirates is abolishing 7 billion Dollars of Iraqi debts

The United States is urging Arab governments to support Iraq and follow the example of Western States in exempting Baghdad from foreign debt amounting to 80 billion dollars.

Thus Washington wants from Arab capitals to establish diplomatic representation at a high level in Iraq.

The United Arab Emirates appointed the new ambassador in Iraq last Sunday in a step alleviate the diplomatic isolation of Baghdad during a visit by Iraqi Prime Minister Nuri al-Maliki.

This step came after the Foreign Minister of United Arab Emirates Sheikh Abdullah Bin Zayed Al Nahyan visited Baghdad in June to become the first foreign minister and one of the Arab Gulf States visiting Baghdad since the US-led invasion in 2003.

Stated the official Emirates news agency (WAM) that the debt owed by Iraq is four billion dollars has been provided at different times. As informed diplomatic source Emirati Reuters that the total amount which will be abolished reported seven billion dollars including interest and arrears.

Stated the President of UAE AlSheikh Khalifa bin Zayed Al Nahyan to (WAM) as saying, "The decision of UAE to cancel debts of Iraq is an expression of the brotherhood and solidarity between the two countries and help the Iraqi Government to implement plans and projects of reconstruction and rehabilitation of various institutions and facilities in Iraq."

From his part Al Maliki welcomed this step; he said it would help his government to "support the process of restoring security and stability in Iraq through the opening horizon for Iraq to get rid of the burdens that weigh its economy and its institutions."

Washington also welcomed the decision of the United Arab Emirates to cancel the Iraqi debt and appointing Ambassador in Baghdad after reopen the Embassy.

Stated Gordon Jondro the White House spokesman in Tokyo, where President George W. Bush attends the summit meeting of Group of Eight "We appreciate that Emirates recognized the secure and prosperous Iraq is in the interest of everyone in the region."

During the past three years about 66.5 billion dollars of Iraq's total debt has been cancelled, which totals 120.2 billion. And Paris Club canceled 42.3 billion dollars of debt, including Russia, which up to 12 billion dollars.

And some states are not members of the Paris Club abolished of $ 8.2 billion as well as commercial creditors cancelled 16 billion dollars.

Saudi Arabia last year promised to cancel 80 percent of Iraq's debts amounting to 15 billion dollars but have not yet done so. As for Kuwait, which Iraq condemns them five ten billion dollars was cancelled nothing yet.

In references to ease the growing diplomatic isolation of the Iraqi capital, Baghdad expects close visit from King of Jordan Abdullah, and Turkish Prime Minister Rajeb Tayyip Erdogan. The King Abdullah will be the first Arabic leader visits Iraq since the invasion.

Mean while Sunni Arab governments are reluctant to establish relations with Baghdad since US-led war to topple Saddam Hussein, when they funded the Iraq war between 1980 and 1988 against Shiite Iran justifying of security conditions and the large influence of Iran.

No ambassador of any Arab country permanently in Iraq since the kidnapping and killing of Egyptian ambassador shortly after his arrival in 2005.

The UAE has withdrawn its ambassador from Baghdad in May 2006 after one of its diplomats kidnapped and detained for approximately two weeks at the hands of Islamic extremists.

The diplomatic representation has maintained a low level since that time, but the appointment of Abdullah Ibrahim Al Shehhi UAE Ambassador in India currently represents a major shift. Also pledged to Saudi Arabia and Bahrain to send ambassador to Iraq but the UAE is the only Arab country which went ahead with this step.

The source said that the Iraqi government agreed to the appointment of Al Shehhi and is waiting final signature of the President of the United Arab Emirates and is not yet clear when he would reach Baghdad. (Source)AlSabah


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