HE President Barzani: We guarantee that Kurdistan will be safe and will not be overtaken by ISIS

easy, we all have to wait and see and hopefully they will be defeated in the future, it is not only a military challenge, we all have to fight them in other ways as well. We need to cut off their supplies and roads, we all need to fight them together but what Kurdistan has done against ISIS we are very proud of.

CNBC: Your people have been more successful in the fight against Islamic State than Baghdad. How is Baghdad getting it wrong when it comes to this conflict?

BARZANI: The problem is actually with the previous regime in Iraq that provided the environment for the sort of problems that we see in the Iraqi military. In the previous regime, the way that they managed the Iraqi military and they constructed the military after the changes that they made to them, unfortunately, changing the national army to a more sectarian army and those people that were supposed to fight for the country didn't really have the cores and that is the main reason why the Iraqi military was not able to succeed.

CNCB: And what kind of problems have you guys had in terms of your liquidity because Baghdad I believe still owes you money and in terms of many of the vendors that are operating inside of Kurdistan right now, there are questions about whether or not they're getting paid.

BARZANI: Of course, there is an agreement between Kurdistan and Baghdad and in terms of making this agreement, both have commitments and I hope that both will abide by the commitments and fulfil their commitments. But, in any case, we want to make sure that these companies that are working in Kurdistan will get their rights either way. Either Iraq will commit to the agreement that they have and will pay Kurdistan or in another case if they don't and fail to pay Kurdistan then we will be selling our own oil and collecting our own avenue.

In each case we are committed to these organisations and their rights will be protected. We will give Baghdad one or two months or maybe a few more months to see if they will go ahead to fulfil the commitments.

CNBC: And in terms of the liquidity, in terms of the vendors looking for their cash, is this a situation where you guys might consider borrowing to fulfil your needs and to fulfil your debts because Baghdad hasn't got a problem with borrowing, it's how they make sure to pay government salaries, is that something Kurdistan would also consider?

BARZANI: That is an option but either Iraq pays and provides liquidity or we can sell our own oil, in both cases, we don't need to borrow but it is an option.

CNBC: So, the perception then that's growing now, that Kurdistan has problems paying its debt is something that we're going to see solved in the next few months depending on what we're going to get from Baghdad.

BARZANI: Of course, we are committed to the agreement that we have with Baghdad and we will try our upmost to work it out, but in case they don't come forward and we have to fulfil our commitments towards our corporations’ and definitely we will pay them back.

CNBC: I want to ask about the role of the United States. We've seen commitment from the Obama administration in the last few days to send rockets to the government in Baghdad. Are they doing enough and what does Kurdistan need from the US government?

BARZANI: I do feel that the USA has done a lot for the Iraqi Army. However, it was the Iraqi army that was unable to take advantage of it. In terms of Kurdistan, we are very grateful and thank the USA for the support that they have provided to us. Unfortunately, in terms of the weapons, we have not received the kind of equipment that we demand and if required to defeat and fight Isis. And in this trip to Washington, I have raised this issue with the administration and other government officials. And we are hopeful that they will respond positively and there will be some changes in this regard.

CNBC: What do you think holding these weapons up?

BARZANI: Maybe there are some misperceptions.

CNBC: In the US, there is the perception that now that the Obama doctrine is questionable when it comes to what's happening in the region. And many in the US congress are now raising questions about whether the President’s strategy is the right one when it comes to helping to defeat the Islamic State. Is the US doing enough to fight this threat?

BARZANI: As much as we are concerned, in Kurdistan, the intervention was very swift and quick and we are very grateful for the support that they provided but in general there is not a very strong reaction to face and defeat Isis. I think there is a need for more commitment and contribution to defeat Isis more quickly.

CNBC: And that's across the board and not just the US, the other Arab states?

BARZANI: The whole international community, in fact.

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