Disbursal of the first $5 billion of the Iraq Supplemental to the U.S. budget is expected to have an enormous macroeconomic impact, including creation of modern infrastructure and thousands of new jobs through direct job creation as well as multiplier effects.
Iraq Government is also investing $125m to create 125,000 new jobs for Iraqis and $9m […]
The Central Bank of Iraq announced on January 31, 2004 that 3 foreign banks have been granted preliminary approval to operate in Iraq: Hong Kong Shanghai Banking Corporation, Standard Chartered and National Bank of Kuwait.
315 state-owned bank branches have re-opened as of February 2004. 19 private banks are operating with 140 branches across Iraq. New […]
Saddam Hussein ran up Iraq’s foreign debt to approximately $125 billion.
Iraqis had little faith in the banking system. 6 state-owned banks were under-capitalized and poorly managed. The operations of 17 private banks were heavily restricted.
Two different types of currency were used in Iraq. The Saddam dinar, prone to counterfeiting, traded in areas of the country […]
During Saddam Hussein?s rule, three decades of economic mismanagement crippled Iraq?s economy.
Repressive economic policies isolated Iraq internationally and concentrated wealth in the hands of Saddam?s supporters while the majority suffered widespread poverty.
The CPA is working with our Iraqi partners to build a strong market economy based on a number of key principles:
Openness
Transparency of […]
