SWFloridaGuy: There were a couple of interesting articles released today. The Energy Commission confirmed the enactment of the HCL during the next two months and the Foreign Minister made a statement about the possibility of Iraq exiting Chapter 7 by the end of the year.
I remember a couple months ago Kuwait forgave a significant amount of Iraq's debt in return for their recognition of Kuwait's borders in accordance with UN resolutions.
Kuwait has also made major investments into Iraq and together they are forming a mutually beneficial relationship. When Iraq fulfills all obligations and comes to a final agreement with Kuwait, then it's up to the UNSC.
When the time comes, in accordance with the relevant provisions of the Charter of the United Nations, a decision from the Security Council will be made by an affirmative vote of the members of the Council including the concurring votes of the five permanent members.
Of course this process could always be accelerated due to private negotiations between Iraq, Kuwait and the UN. It just as easily could be postponed indefinitely. While I do like the articles, I think we can all agree we've heard this many times before. So, all we can do is wait for public announcements or official notations in the Iraqi Legal Database and and hope for the best.