Saturday, December 24, 2005

IMF approves historic loan to help Iraq's recovery

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This represents an important step forward for Iraq. In order for it to use its natural capital, it needs a cash injection. This will also be seen as a good sign to international investor, whose money is needed to rebuild the economy.

While the US can rebuild schools and the like, it's tremendously difficult to rebuild something as complex as an economy if there is only one participant. But this injection will hopefully bring with it more participants. And as an added bonus, I hope it also further cements Iraqi participation in their own affairs via peaceful means.

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