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Baghdad to fund KRG with over 200 million US dollars

24 February 2015 15:46

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Baghdad agrees to send 250 Billion Iraqi dinars which is equal to more than 200 million US dollars to the Kurdistan Regional Government as part of the KRG’s annual budget.

Iraq’s Finance Misniter – Hoshyar Zebari -.had requested that the Central bank pays this amount as part of the landmark oil-deal signed between Erbil and Baghdad back in December.

Kurdish Premier Nechirvan Barzani renewed the Kurds’ commitment to the interim oil accord with Baghdad which stipulates that the KRG is to send some 550,000 barrels of oil per day from Kurdistan and Kirkuk oilfields.

These comments came at the heels of a high-profile meeting he led in the Kurdish capital Erbil with Kurdish Blocs in Iraqi Parliament.
Barzani called on the Kurdish ministers in Baghdad to facilitate negotiations with the federal government.

It is worth noting that Baghdad has time and again pointed out that the delay in the KRG’s budget is due to the sharp shortfall of oil prices and the hefty costs of the war on terror.
However, not all Kurdish parties saw Baghdad’s move as a positive step.

In recent days, murmurs of the possible withdrawal of Kurdish Ministers from the Iraqi parliament and the abstention of the Kurdish Peshmerga from backing the Iraqi army in the battle to liberate Mosul were echoing in Erbil’s political corridors.Though for now, it doesn’t seem that the Kurds are headed towards escalation.

Kurdish Premier – Nechirvan Barzani – is expected to make yet another visit to Baghdad soon in continuation of the talks between the KRG and the Central government.It remains to be seen if the Kurds will stick to their part of the deal especially as the threat of ISIL is at their doorstep and eliminating it – analysts say – must remain a priority.

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