In his first speech before the international community in June 2003, CPA administrator Paul Bremer said the “first job of any government is to maintain law and order… its third and most immediate priority: rebuilding the economy.” Most Iraq analysts agree that after security concerns, it’s the economy that will determine whether Iraq succeeds or fails after the June 30th.
Over the last year the CPA has made some economic changes including an independent central bank, a liberal policy toward foreign investment and a balanced budget law, something the U.S. has yet to do itself. But critics say, that since all this was done without approval or participation from the Iraqis themselves, it could go by the wayside once Iraqis are back in charge. Examining whether Iraqis will be able to grow a thriving economy or revert back to an economic system based on plain old corruption and bribery. Saddam’s dinar and Iraq’s financial challenge, next
Guests:
Christopher Foote, Senior Economist at the Federal Reserve Bank of Boston
Sonal Shah, Associate Director for Economic and International Policy at the Center for American Progress
Dr. Mehdi Hafedh, Iraq’s Minister of Planning and Development Cooperation.