Inflation, which hit 60% in 2006, is down to 12-15%. Lending by private banks rose 50% from October 2007 to February 2008 as small businesses looked to expand.
The Bloomberg news agency reported last month that Iraq's bonds are delivering the biggest returns in emerging markets worldwide, with risk premiums that suggest Baghdad may be safer for bond investors than Cleveland.
Poster's comments:
This is why history will view the Iraq war as a success. Iraq's burgeoning econcomy will deny Al-Qaeda it's prime source of recruiting, poor and uneducated Arabs. It will also put pressure on it's neighbors -Iran, Saudi Arabia, Kuwait, Jordan and Syria - to expand freedoms and reject extremism. The war on terror will be won by destroying the extremists true foundation: hopelessness.
Jason
9/10/2008 7:01:00 AM