KRG Council of Ministers to set up foreign loans committee

Erbil, Kurdistan Region, Iraq (cabinet.gov.krd) – Kurdistan Region Council of Ministers yesterday held its ordinary meeting, chaired by Prime Minister, Nechirvan Barzani and attended by Deputy Prime Minister, Qubad Talabani.

Prime Minister Barzani shed light on the latest developments in the relations between Kurdistan Regional Government, KRG, and the Iraqi Federal Government, highlighting the differences between the two sides over the implementation of Iraq’s 2015 Federal Budget Law.

The KRG has fulfilled its obligations as stipulated in the Law, while the Iraqi government has not fully honoured its obligations, which consist of the payment of Kurdistan Region’s budget.

The Iraqi Federal Government takes this stance at the moment when the financial burden on the KRG has dramatically increased, due to the ongoing war against the Islamic State terrorist organization, ISIS, and, in addition to its 1.7 million refugees and internally displaced persons, IDPs, Kurdistan Region continues receiving waves of people fleeing the zones under ISIS.

Prime Minister Barzani pointed out that the KRG continues exerting great effort to ease the Region’s financial difficulties. He reiterated that his government aims at settling the problems with Baghdad through dialog and negotiations. However, he added, if the negotiations lead to no result, the KRG is entitled to settle its problems on the basis of law No. 5, Year 2013, which gives authority to the KRG to seek sources helping to stabilise the Region’s financial security, if Baghdad fails to do so.

In another part of the meeting, Deputy Prime Minister Talabani and Ministers of Finance and Economy and Natural Resources discussed the issue of loan from international banks under the Kurdistan Region Parliament Law No. 7 of 2015, published in Official Gazette on 25 June.

Deputy Prime Minister Talabani briefed the Council about the talks held recently with a number of international financial institutions, noting that the move will help the Kurdistan Region not only in securing financial resources, but it would also further enhance the position of the Kurdistan Region in gaining market credibility.

The members of the Council expressed their support for this project and decided to set up a special committee to be in charge of the implementation of the Law.

Issue of amendment of Kurdistan Region Presidency Law

Regarding the Kurdistan Parliament meeting which held on 23 June 2015 to discuss amendments to the Law of Kurdistan Region Presidency, Prime Minister Barzani pointed out that this move created unease among the people in the Region and was a violation of the principle of consensus, while the session of parliament was held without consulting other parties and not taking into account the current difficulties which the Kurdistan Region passes through.

However, he added, exerting efforts to reach a common understanding among the leaders of political parties continues.

He said, meanwhile, the Kurdistan Parliament move should not reflect in the government work, which as a broad-base government has been conducting its affairs in harmony and unity of ranks.

The Ministers, present at the meeting, unanimously expressed their support for the stance of Prime Minister on the need for the unity of ranks and stances in conducting government affairs, and not to violate the principle of consensus. They also expressed concern about the Parliament move which deals with a sensitive subject at this critical moment.

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