Iraq war will cost the region trillions, UN - 13 Arab members already lost some $600B in the 90's

arabicnews ^

[chance33_98]

Iraq war will cost the region trillions, UN

Regional-Iraq, Politics, 4/16/2003

The United Nations has predicted that the Middle East region will lose a trillion-dollar over the next decade because of war in Iraq.

Mervat Tallawy, executive secretary of the UN Economic and Social Commission for Western Asia (ESCWA), said on Monday the commission's 13 Arab members had already lost some $600 billion in the nineties, "and this amount could have secured between six to seven millions job opportunities."

Tallawy, who delivered a message by UN Secretary General, Kofi Annan, noted during a meeting of the ESCWA Consultative Committee in Beirut that the 1991 Gulf war forced the immigration of 3 to 4 million Iraqis, adding that the annual income of Iraqis dropped from $3,500 in 1991 to $450 presently.

She said that due to the 1996 UN oil-for-food program, Iraq's annual revenues dropped from $12 billion before the Gulf War to $2.5 billion.

She said war in Iraq will result in losses that would affect the ESCWA region that could reach a trillion dollars and a loss of 10 million job opportunities in the coming 10 years.

Tellawy warned that the war will cause instability, increased political disputes and growing terrorism while the tourism sector especially in Egypt, Jordan and Lebanon will be greatly affected.

ESCWA, which was formed in 1973, is made up of Jordan, United Arab Emirates, Bahrain, Syria, Saudi Arabia, Iraq, Oman, Palestine, Qatar, Kuwait, Lebanon, Egypt and Yemen.

In his message, Annan told the annual gathering of ESCWA leaders that exploring the root causes of the conflict is the only guaranteed way to build the basis of enduring peace.

"Over the years, the consequences of war and civil strife have diverted the resources and energies of many ESCWA members away from their development objectives, and those of ESCWA itself away from its intended role," he warned, adding that instead of helping the region reap the fruits of peace and the dividends of development, ESCWA has often had to contend with addressing the aftermath of war," he said.

[John Valentine]

In a word, horseshit.

[patriciaruth]

Doom and gloom. Forgot to mention "quagmire."

The war was the cure for what ails the Middle East.

I realize there are many pitfalls, but I think the handling of these problems will be as wise as the handling of the dangers of the war itself.

The oilfields are not burning. The WMD were not used. Israel and Kuwait escaped largely unscathed. The Turks did not invade and kill all the Kurds. Thousands of Americans did not die. We did not kill everyone in Iraq.

[chance33_98]

pretty much, though I find it interesting they say they lost so much money in the 90's....

[AmericanVictory]

To understand how utterly fatuous this article is, one only has to consider that the entire GDP of the Arab world, if we except oil and gas revenues, is less than that of Finland and less than half of that of Spain. There has been absolutely no sign of economic development such as this author postulates.

[zarf]

Figures this nonsense comes special delivery from the arabicnews.

These people are living in Fantasy Land.

[SAJ]

You betcha!

'Trillions', is it? Bwahahahahahaha, what horse~...

But, then, wait a minute -- maybe the carpet and slavery businesses generate more GDP than we realise?

Naahhh.

[Amalie]

Ah, yes, I remember the U.N. now, it's those guys. Well, you know, they have NEVER been wrong before...(sarcasm off)

[Chancellor Palpatine]

Extraction based economies don't do well in times of war. Guess they might want to think about using their wealth for infrastructure improvement instead of support of radical Islam.