US embassy cable - 03AMMAN6233

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FOLLOW-UP ON IRAQI ASSETS IN JORDAN

Identifier: 03AMMAN6233
Wikileaks: View 03AMMAN6233 at Wikileaks.org
Origin: Embassy Amman
Created: 2003-09-29 15:53:00
Classification: SECRET
Tags: ETTC EFIN JO IZ
Redacted: This cable was not redacted by Wikileaks.
This record is a partial extract of the original cable. The full text of the original cable is not available.

S E C R E T AMMAN 006233 
 
SIPDIS 
 
CPA FOR GEORGE WOLFE 
TREASURY FOR GC AUFHAUSER/ZUARTE 
 
E.O. 12958: DECL: 09/30/2013 
TAGS: ETTC, EFIN, JO, IZ 
SUBJECT: FOLLOW-UP ON IRAQI ASSETS IN JORDAN 
 
REF: SECSTATE 269804 
 
Classified By: Ambassador Edward W. Gnehm.  Reasons 1.5 (b) and (d). 
 
1.  (S)  In a September 29 meeting with the Ambassador, 
Finance Minister Marto confirmed that he was ready to chair 
the meeting on assets and bilateral financial issues agreed 
to during Prime Minister Ali Abul Ragheb's September 16 
meeting in Washington with State and Treasury officals (ref). 
 Marto said other members of the Jordanian team would be 
Minister of Industry and Trade Moh'd Abu Hammour, Central 
Bank Governor Umayya Toukan, and former Industry and Trade 
Secretary General Samer Tawil (currently tourism minister, 
 
SIPDIS 
Tawil has extensive experience with Iraqi issues from his 
time at the trade ministry).  Marto said he was available at 
any time in early October, with the exception of October 
9-11, when he is scheduled to participate in a conference in 
Beirut. 
 
2.  (S)  Marto made clear that in addition to issues 
regarding frozen Iraqi assets, he would like to discuss the 
status of the $1.4 billion in Central Bank of Jordan claims 
on the Iraqi Central Bank.  He said that Jordan felt strongly 
that these claims were different from other government's 
claims on Iraq and that they should not be lumped with other 
Iraqi government obligations dealt with by the Paris Club. 
In response to the question raised in para 4 of reftel, Marto 
confirmed that the Jordan National Bank, was heavily exposed 
to Iraqi trade and was in danger of financial collapse if its 
claims on Iraq were not covered.  Iraq exposure was also a 
major contributor to the financial difficulties of another 
bank, the Philadelphia Bank. 
 
3.  (S)  Comment:  Marto said he would welcome participation 
by Iraqi trade, finance ministry and central bank officials. 
We agree that in order for the meetings to be meaningful and 
productive, it would be very helpful for Iraqis -- 
particularly those with knowledge and ideally direct 
experience on the former bilateral oil-for-goods protocol -- 
to be part of the team from Baghdad. 
GNEHM 

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