2-3-11 Legal Adviser reveals a mechanism to compensate Kuwait and affected foreigners from the former regime

Highlights/Thoughts
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1. On May 1, the next mechanism to protect Iraq funds in international banks will be presented to the UN
2. The government will repay debt incurred on Iraq by Sadaam's policies after the DFI expires (end of June)
3. The Cabinet approved the settlement agreement reached between Washington in the amount of $400 mil for compensation

We saw news about this in the past couple of days. The 5/1 date is the date associated with when the CBI needs to be able to transfer money into new accounts. So these activities line up with the UN meeting on 5/1. Looks like they need to wrap up the new mechanism and have it all working by 5/1.