Iraq will be poor 'for years'

[DuctapeFatwa]

Iraq will remain impoverished for years to come because oil will not fund public spending, aid will fall short of what is needed and few companies will want to invest there, a report leaked to Reuters news agency has said.

Even if oil prices are favourable, stability is achieved and debts are largely written off, Iraq's economy will not reach even half the size it was in the 1970s, the US-based Institute of International Finance (IIF) said in a document sent to its members and quoted by Reuters.

The IFF - a leading banking body in Washington - did not deny circulating the report quoted by Reuters but refused to comment on its contents.

http://news.bbc.co.uk/2/hi/business/3158348.stm

[Brucey]

1. Iraq will be poor for "years"??

When Kissinger won the Peace Prize it was the end of irony. I guess now we are seeing the end of understatement. Iraq will be poor for centuries. Even if their oil reserves are turned into huge amounts of money, does anyone think the Iraq citizens will get that money? Just like here... do our rich natural resources benefit the average citizen? (Hint: US has highest poverty rate of any developed country). Oh well, back to the crossword puzzle.

[teryang]

2. All part of the plan

This is what the pro zionist power structure is seeking - to permanently hobble, neutralize and exploit emerging Islamic powers in mid east. The utopian rhetoric of the neo con regime is pure poppycock.