Prime Minister Essam Sharaf will meet with a delegation of the Iraqi Finance Ministry on Tuesday to resolve the problem of money owed by Iraq to Egyptian laborers, said Minister of Manpower Ahmed Hassan al-Borai. The case is known as the “yellow remittances” issue.
The debt amounts to US$408 million owed by Iraq to Egyptian workers who fled Iraq during the first Gulf War in the early 90s, following Iraq's invasion of Kuwait, leaving their money and businesses behind.
“I will request them to start transferring the money in the coming few days,” Borai said.
The ministry has tasked four Egyptian banks with receiving and disbursing the funds.
Translated from the Arabic Edition