VOL. XLVI

No 39

29-September-2003

BUDGETS AND REVENUES

UNCC Approves $315Mn Compensation Payout; Warns Coffers Are Low

The United Nations Compensation Commission (UNCC) on 18 September approved awards of more than $315mn, but warned that following continued low oil production in Iraq, and the reduction of its share of the countrys oil revenue from 25% to 5% under UN Resolution 1483 (MEES, 7 July and 26 May), its coffers are running low. The UNCC says it is receiving $36mn a month and has just...