HL Deb 13 June 1991 vol 529 c65WA
Lord Kennet

asked Her Majesty's Government:

Whether the World Bank and the International Monetary Fund are being asked for advice on the level of Iraq's oil earnings to be earmarked for reparations payments, and when the International Court of Justice at the Hague will be invited to adjudicate on these matters.

The Minister of State, Foreign and Commonwealth Office (The Earl of Caithness):

In recommending that the level of Iraq's contributions to the UN Compensation Fund should not exceed 30 per cent. of the annual value of the exports of petroleum and petroleum products from Iraq, the UN Secretary General drew on data from various sources, including the IMF. The final decision on this matter will be taken by the Security Council. Neither SCR 687 nor SCR 692, nor the Secretary General's report on arrangements for the fund, envisages any role for the International Court of Justice.