Away from Violence...an Overview of Iraq's Economy

[JJLL]

This is a pretty good article...

Away from Violence...an Overview of Iraq's Economy
27/03/2006
Source: Ashraq Al-Awsat

http://www.iraqdirectory.com/DisplayNews.aspx?id=1066

"According to a number of reports, the Iraqi economy is set to grow between 20% and 30 % annually owing to investments, reconstruction projects and private schemes."

"According to evaluations by the World Bank, the funds for reconstruction projects might reach $36 billion dollars between 2004 and 2007, with 68% going to the development of Iraq’s infrastructure, including its electricity grip, water and sanitation networks and transportation, in addition to health and education. Another proposed project is to build the oil sector and develop it in order to increase oil experts from 2.7 billion barrels in 2005 to 5.4 billion barrels a day in 2007. "

"Despite all the successes that have been achieved so far, one ought to admit that fixing the Iraqi Dinar’s exchange rate remains a difficult task, because it requires large reserves of foreign currency to maintain/stabilize the exchange rate. Because these reserves are not currently available, either from oil revenues or as assets in the Iraqi Central Bank, doubts will remain on the strength of the Iraqi currency. "

[Lonestar]

Interesting read, Thanks for the post.

[Raymond]

[quote=JJLL]This is a pretty good article...

Away from Violence...an Overview of Iraq's Economy
27/03/2006
Source: Ashraq Al-Awsat


"According to evaluations by the World Bank, the funds for reconstruction projects might reach $36 billion dollars between 2004 and 2007, with 68% going to the development of Iraq’s infrastructure, including its electricity grip, water and sanitation networks and transportation, in addition to health and education. Another proposed project is to build the oil sector and develop it in order to increase oil experts from 2.7 billion barrels in 2005 to 5.4 billion barrels a day in 2007. "

Wow!! 5.4 billion barrels a day!!!!!!!!!!!!!! Our dinar should be worth $1500.00 each when this happens!!!!!!! :drunk:

Must be 5.4 billion total in 2007. :D

[arh777]

Away from Violence...an Overview of Iraq's Economy
27/03/2006
Source: Ashraq Al-Awsat


The toppling of Saddam Hussein from power, three years ago, gave the Iraqis the opportunity to reclaim their country in order to live under a normal government whose leaders do not instigate three destructive wars in less than three decades. His departure was a chance to live under a government that respects the law and institutions, a government derived from the choice of its citizens, represented by an elected parliament and a cabinet that answers to it; a chance to live in a country resting on a wealth of natural resources which the former regime squandered on its security services and wars, in order to maintain its bloody rule.

Despite all the successes that have been achieved so far, one ought to admit that fixing the Iraqi Dinar’s exchange rate remains a difficult task, because it requires large reserves of foreign currency to maintain/stabilize the exchange rate. Because these reserves are not currently available, either from oil revenues or as assets in the Iraqi Central Bank, doubts will remain on the strength of the Iraqi currency.
http://www.iraqdirectory.com/en/default.asp

[JJLL]

I'd be happy with half their expectations. The Iraqi Weekly Status Report - http://www.state.gov/p/nea/rls/rpt/iraqstatus/2006/c16536.htm

show Iraq putting out 2.05 MBPD

Prewar levels were 2.5, they're not too far off.