Identifier
Created
Classification
Origin
09USUNNEWYORK1137
2009-12-19 00:05:00
CONFIDENTIAL
USUN New York
Cable title:  

UNSC CONSULTATIONS ON DEVELOPMENT FUND FOR IRAQ

Tags:  PREL PGOV IZ KU 
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VZCZCXYZ0022
PP RUEHWEB

DE RUCNDT #1137 3530005
ZNY CCCCC ZZH
P 190005Z DEC 09
FM USMISSION USUN NEW YORK
TO RUEHC/SECSTATE WASHDC PRIORITY 7863
INFO RUCNRAQ/IRAQ COLLECTIVE PRIORITY
RUEHGG/UN SECURITY COUNCIL COLLECTIVE PRIORITY
RUEHGB/AMEMBASSY BAGHDAD PRIORITY 0724
RUEHKU/AMEMBASSY KUWAIT PRIORITY 1660
C O N F I D E N T I A L USUN NEW YORK 001137 

SIPDIS

E.O. 12958: DECL: 12/18/2019
TAGS: PREL PGOV IZ KU
SUBJECT: UNSC CONSULTATIONS ON DEVELOPMENT FUND FOR IRAQ

Classified By: Ambassador Rosemary DiCarlo for reasons 1.4(b)and (d).

C O N F I D E N T I A L USUN NEW YORK 001137

SIPDIS

E.O. 12958: DECL: 12/18/2019
TAGS: PREL PGOV IZ KU
SUBJECT: UNSC CONSULTATIONS ON DEVELOPMENT FUND FOR IRAQ

Classified By: Ambassador Rosemary DiCarlo for reasons 1.4(b)and (d).


1. (SBU) Summary: In Security Council consultations on
December 17, the UN Controller briefed on the recent
International Advisory and Monitoring Board (IAMB) meeting,
highlighting the Government of Iraq's (GOI) progress in
developing a time-bound action plan to implement a
comprehensive oil metering system. Council members provided
brief interventions which voiced the need for transparency
and accountability in relation to the current Development
Fund for Iraq (DFI) and future successor to the DFI. The
Ambassador DiCarlo formally introduced the DFI resolution
which further extends the DFI and IAMB arrangements for an
additional twelve months and is anticipated to be adopted on
December 21. End Summary.


2. (SBU) In consultations on December 17, Assistant
Secretary-General and Controller Jun Yamazaki briefed the
Council, focusing on the most recent IAMB meeting held in
Washington on December 16. Yamazaki highlighted the Iraqi
Committee of Financial Expert's (COFE) update at the IAMB
meeting on progress in developing a time-bound action plan to
implement a comprehensive oil metering system. He reported
that COFE has now received a revised, detailed plan from the
Ministry of Oil, with the oil metering system scheduled to
become fully operational by the end of 2011, with the
exception of one company that will be completed by 2012. He
noted that the action plan to implement the comprehensive oil
metering system, as well as the implementation status, will
be available shortly on the IAMB website (www.iamb.info) and
COFE website (www.cofe-iq.net). The Controller also noted
that the IAMB discussed moves to "deposit potential
disbursements" to Iraq from international financial
institutions into the DFI and that the sense of the Board was
that such deposits "might cause a conflict of interest for
some IAMB members." (Note: While no further elaboration of
these "potential disbursements" was provided, it is believed
to be a reference to recent GOI investigations into
depositing potential disbursements from the World Bank and/or
the International Monetary Fund. End note.)


3. (C) With the exception of Libya, all Council members
provided brief interventions which voiced the need for
transparency and accountability in relation to the current
DFI and future successor to the DFI. A number of delegations
echoed the draft DFI resolution's call on the Iraqi
Government to create and implement a transition plan for a
DFI-successor mechanism. The UK and Japan reminded the
Council of the Iraqi Government's continued responsibility
for compensation to Kuwait, while Austria noted the Iraqi
constitutional requirement for an oil fund that benefits
Iraqi society in a fair and transparent manner.


4. (SBU) During the U.S. intervention, Ambassador DiCarlo
introduced the DFI resolution which further extends DFI and
IAMB arrangements for an additional twelve months. The
resolution asks the Government of Iraq to provide periodic
progress reports to the Council and welcomes representatives
from COFE to brief the Council on the establishment of a time
frame and action plan to implement the recommendations of
IAMB. Council members have reached consensus on the
resolution which has been put in "blue" (ready for action)
with adoption expected to take place on December 21.
RICE

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