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Economic development in Iraq in 2008 has been "encouraging" according to a review of the country's economy by the International Monetary Fund (IMF). Improved security and a more stable political environment mean economic activity has "picked up" on the back of increased oil production and exports. IMF deputy managing director Takatoshi Kato said the authorities had kept the economic programme "on track". Oil revenue in 2009 would be much lower than in 2008, he added. To compensate, the Iraqi government has already prepared measures to reduce spending next year.

WASHINGTON -- Three in four Iraqi business leaders are optimistic about the future though nearly half say they enjoyed better basic services under Saddam Hussein, according to a recent poll released by Zogby International and the Center for International Private Enterprise. "The respondents believe that their own firms will grow and succeed and that Iraq's economy and political system will continue to grow and develop," said the poll, which was released Wednesday. Seventy-seven percent of business leaders polled said they expected the economy as a whole to grow at least somewhat, with more than half of those predicting the growth...

BAGHDAD — Wedged between the reports of murder and mayhem, the headline in the local paper was eye-catching: "Should you change your wallpaper for lighter tones?" it asked. "Do it once and you'll see the results." Although there are no lifestyle magazines yet, no Baghdad style mavens and little cause for celebration until some basic security is in place, people are starting to improve a part of life they can control — the world behind their high walls and locked front doors. Slowly but surely, ordinary Iraqis are redoing floors, hanging curtains, buying new pictures and feathering their nests after...

Iraq's central bank fired up its furnace yesterday and consigned thousands of banknotes bearing the smiling face of Saddam Hussein to the flames ahead of a massive currency swap to start next week. Deputy Central Bank Governor Ahmed Salman Mohammed said the bank had already absorbed a "good portion" of Saddam banknotes still in circulation and would carry on with the systematic destruction in coming weeks. Iraqis have three months from October 15 to swap the estimated four trillion dinars of Saddam banknotes in circulation for new bills bearing pictures of an ancient Babylonian ruler and a 10th century...

Bush Touts New Iraq Currency as Sign of Progress Sat Oct 11,10:23 AM ET Add U.S. National By Caren Bohan WASHINGTON (Reuters) - President Bush (news - web sites), seeking to bolster public support for his Iraq (news - web sites) policies, on Saturday hailed the launch of the country's new currency as a sign of economic promise. Reuters Photo Latest headlines: · Shiite Muslims Converge on Iraq Holy City AP - 44 minutes ago · Islamic Summit Prepares to Welcome Iraq AP - 1 hour, 7 minutes ago · Bush: Strategy Helps Iraq Make Progress AP - 1 hour,...

BAGHDAD, July 12 (AFP) - While some no longer hesitate before displaying cars for sale in the street, others are investing in what they herald as a prosperous future by equipping shops with marble service counters. In short, signs of confidence among shopkeepers in Iraq, despite continued unrest three months since the collapse of Saddam Hussein's regime, are now growing strongly. "My optimism grows ten-fold every day," says retailer Fadil Emara. The 48-year-old shopkeeper looks genuinely enthusiastic as workers kit out the 1,800 square-metre space that is to become his household electric appliance shop. "We've got a wonderful and brilliant...

Iraqi Oil Exports Restart Despite Pipeline WoesSun June 22, 2003 11:35 AM ET By Asli Kandemir ANKARA (Reuters) - Iraq took its first steps back into the world oil markets since the U.S.-led war when one million barrels of crude oil were loaded onto a tanker at the Turkish port of Ceyhan Sunday. Post-war looting and sabotage at oil facilities have delayed the resumption of Iraq's oil exports, crucial to the country's recovery after a decade of economic sanctions, and an explosion on a pipeline Saturday was the latest blow. The blast near the town of Hit northwest of Baghdad...

Ambassador Paul Bremer, the US civilian administrator in Iraq, spoke Sunday at the extraordinary meeting of the World Economic Forum, laying bare an agenda that stressed economic over political reform. "The nation's liberation would be incomplete if Iraqis were secure in their persons but not their property," said Bremer to an audience of about 1000 participants packed into a poorly air-conditioned tent at this sweltering Jordanian resort. Attempting to overcome a tide of pessimism about conditions in Iraq, Bremer noted the recent deployment of 30,000 Iraqi policemen, the emergence of 100 newspapers, the creation of district advisory councils, and the...

CAIRO - The United States stepped up moves this week to revive Iraq's war-battered economy, temporarily lifting tariffs to boost cross-border trade and business and announcing plans to set up a major credit facility. With a UN Security Council resolution on May 22 ending 13 years of international sanctions on Iraq, the United States and Britain have now taken the reins of Iraq's economy, controlling notably its key oil revenues to fund rebuilding efforts. The Office of Reconstruction and Humanitarian Assistance (ORHA) announced that a tariff holiday would be applied in a few days to boost commerce and relieve Iraqi...

BAGHDAD, Iraq May 24 — The acting oil minister of postwar Iraq predicted Saturday that crude production would double within a month and oil exports would resume "within three weeks."Thamer al-Ghadhban said Iraq was currently producing 700,000 barrels of oil a day and working hard under U.S. occupation to increase that number as quickly as possible."It is a matter of a few weeks, and we can reach 1.3 or 1.5 million barrels a day," al-Ghadhban said at a coalition-sponsored news conference in the capital.Prewar production under Saddam Hussein was about 3 million barrels daily.Iraq is being watched closely by the...

<p>May 25, 2003 -- With 13 years of crippling economic sanctions finally lifted, Iraq is set to resume oil exports next month, an interim government official said yesterday, a major step toward rebuilding the country's economy.</p> <p>"By two to three weeks, Iraq will be back in the market," said Thamir Ghadhban, director of Iraq's oil ministry, at a news conference. "It will take a few weeks but we should be producing 1.3 to 1.5 million barrels per day by the middle of next month."</p>

Pelosi says that Bush "inherited the strongest economy in a generation and squandered it". What bullsh!t. Bush inherited a recession. Lots of liberal bias here... WASHINGTON, Apr 11, 2003 (The Dallas Morning News - Knight Ridder/Tribune News Service via COMTEX) -- As American troops swarmed through Baghdad and Iraqi citizens slapped shoes on Saddam Hussein statues, President Bush invited some special guests to the White House the other day - corporate CEOs. War in Iraq may dominate the news, but aides say Bush has continued to work on the economy. And political analysts say that's wise: American voters are also...