Iraqi traders stop accepting Saddam bank notes


Amman: Jordan and Egypt have agreed to supply western Iraq with electrical power by connecting the national grids of the three countries, Jordanian Energy Minister Azmi Khraisat announced here yesterday.
“An agreement has been reached for supplying areas in western Iraq with electricity from Egypt through the Jordanian power network, in addition to direct feeding from the Jordanian national grid,” he said.
“Technical teams from the three countries are involved in a study on the best ways of putting the connection into effect,” he added.
Khraisat was speaking during a ceremony to launch an Iraqi Electricity Ministry bureau, which will act as a liaison office with the outside world.
The ceremony was also attended by Iraqi Electricity Minister Ayham Samaraie, who underscored the importance of the office for “coordinating efforts related to the reconstruction of the Iraqi power sector”.
He pointed out that about $11.6 billion has been allocated to help rebuild the Iraqi electricity sector that was badly damaged in last year’s US-led war on Iraq.
“The United States has approved a grant of $8.6 billion, while other donor countries pledged 3 billion,” Samaraie said.
n Baghdad: Shop owners, taxi drivers and traders have stopped accepting the Iraqi dinar used under the former regime of Saddam Hussein.
The old currency’s validity ends in 12 days, the deadline for Iraqis to replace their old bank notes with new ones which do not have pictures of Saddam.
Deputy Governor of the Iraqi Central Bank Ahmad Salman Al Jabouri said that starting January 15, “the old dinars will be useless.”
The Central Bank had assigned over 240 banks all over Iraq since October to replace old bank notes with new ones which are illustrated with different Iraqi characteristics rather than symbols of Saddam and his Baath party.
Jabouri said over 85 per cent of the old currency has been replaced, adding that the Central Bank destroyed over 2,000 tonnes of the old currency. Owner of a currency exchange shop in Baghdad Imad Abdel Jabbar said that the level of people exchanging the old currency increased dramatically in the past month. “Saddam’s dinars have disappeared,” he said.
n KUWAIT: US special envoy for Iraqi debt James Baker is not expected to discuss billions of dollars in war reparations Baghdad owes Kuwait for its 1990 invasion, the emirate’s foreign minister said yesterday.
“We look forward to meeting with Baker ... to discuss the issue of Iraqi debt which will be discussed later at the Paris Club” of creditors, Shaikh Mohammad Al Sabah said.
The Kuwaiti minister did not confirm, however, whether Baker would be visiting the emirate on his trip to the Middle East but Kuwaiti newspapers said yesterday the special envoy was expected here next week. “Kuwait looks at the issue from two aspects ... Iraq’s debts and reparations for damages during the invasion which are governed by UN Security Council resolutions,” said the minister.
“I don’t think the second will be raised” during a possible visit by Baker, added Shaikh Mohammad following a meeting with Parliament’s foreign relations committee. – Agencies
Last update on: 4-1-2004