Oil to solve Iraqs problems

[tim5400]

Oil revenues optimization would solve Iraq’s problems – Maliki
February 28, 2010 - 06:26:29
BAGHDAD / Aswat al-Iraq: Iraqi Prime Minister Nouri al-Maliki said on Sunday that the optimization of Iraq’s oil revenues would solve all the country’s problems and repay all foreign debts.

“Contracts with global oil corporations and conglomerates can also help repay all compensations for some Arab and Gulf states and meet all reconstruction obligations,” Maliki said in response to questions through the National Information Center.

Since 2003, Iraq has been seeking to have its $120 billion worth of foreign debts accumulated during the former regime’s time written off. The war-ravaged country, however, managed to get nearly half of this sum - $55 billion owed to the Paris Club of creditor nations – dropped.

Still Iraq owes a sum of $21 billion to some Arab countries, including $21 billion to the Gulf states - $15 billion to Saudi Arabia and $6 billion to Kuwait, over which negotiations are underway.

AmR

[IcemanSC]

Good post, thanks.