Iraq's Economy Wakes Up!

[Barbann]

http://www.businessweek.com/magazine/content/10_18/b4176017884558.htm

Economics April 22, 2010, 11:00AM EST text size: TT

Iraq's Economy Wakes UEp

Investment and products from abroad begin flowing

[ToddS]

Thank you for the article Barbann.

[SuperFlyJr]

The most encouraging thing about Iraq is that outside investors press on. Schlumberger, the oil services company, is quickly moving $100 million into Iraq, in part to build a base camp that will employ 300 workers. Iraq Oil Minister Hussein al-Shahristani, who negotiated with the oil majors last year, thinks the oil fields will eventually generate 100,000 Iraqi jobs. Schlumberger's top brass are primed to hire: They figure the country is a Saudi-size opportunity and that up to 100 drilling rigs will be needed for what could be the biggest oil boom of all. The Iraqi people are ready.

The bottom line: Foreign direct investment is key to Iraq's revival, but the IMF figures less than $1 billion came in last year. That number could multiply fast.

Sounds very positive!

[racbluto]

All great news, but why do these news reports never mention a dinar RV/RI and how that could really boost there economy. I believe it would also quell the violence and boost the security situation as well. ~~~~Bluto

[dollarsense]

Good news!

[Mongo]

It's Alive.........It's Alive...........What have we created?????

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[BIGCG]

Its great news but the questions i have is How are all these goods over there from other countries when i thought that was part of the sanctions against Iraq???????????? Can anyone please explain???

[Barbann]

Thank you for the article Barbann.

YOu are quite welcome! I am always happy to post news like this.... the rv can't be too far behind can it?

[Barbann]

All great news, but why do these news reports never mention a dinar RV/RI and how that could really boost there economy. I believe it would also quell the violence and boost the security situation as well. ~~~~Bluto

Probably because the speculators would buy up every last Dinar trying to make a buck.

[alice]

Thank you so much for this post. I am just feeling frustarted knowing that the IMF payment is coming due on the 24th and we are not hearing any hard RV news. But I appreciate this positve message nontheless. Would just LOVE to get this done.

Thankyou Thankyou Thank you!!!!!!!

Alice

[W8nomore]

Good news, thanks

[Maynard57]

Thanks for the post, Barbann. The good thing about Iraq's pathetic economy in the recent past is that the only way to go is <<>>

The speed of their reconstruction is really amazing. Their economic infrastructure is growing exponentially. It's like a financial fission bomb. Really impressive.

SO, EVERYBODY, chill. Sit back and pop open a cold one, and what the freakin' fur fly. Good phun.

cheers,

Maynard

[Barbann]

Thank you so much for this post. I am just feeling frustarted knowing that the IMF payment is coming due on the 24th and we are not hearing any hard RV news. But I appreciate this positve message nontheless. Would just LOVE to get this done.

Thankyou Thankyou Thank you!!!!!!!

Alice

It is my pleasure to bring it here and I am glad it cheered you up!