Iraq seeks delay of $4.6bn Kuwait war reparation
Iraq’s Finance Minister Hoshiyar Zebari says Baghdad has been “committed” to paying on time to Kuwait but it faces a cash crisis caused by falling oil prices and war with ISIS.
Iraq is seeking to postpone a final $4.6 billion installment of reparations for its 1990-91 occupation of Kuwait, Finance Minister Hoshiyar Zebari told Reuters, as it faces a cash crisis caused by falling oil prices and war with ISIS.
Since Iraq was first allowed to resume oil sales nearly two decades ago it has paid funds into a United Nations body overseeing compensation for looting and damage inflicted during Saddam Hussein’s seven-month occupation of Kuwait.
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Source News: Alarabiya
File photo: Reuters