Is the slowing global economy going to affect Iraq’s economic development?
It is already starting to affect the level of interest in new investment, especially from Europe and North America. New investors are still visiting Iraq, but the pace has leveled off in the past few months. This leveling off, combined with the decline in oil prices, creates challenges for the Iraqi government. They recognise this risk, and are committed to taking the steps necessary to attract investment. We will have to see how this all unfolds in coming months. What are you planning for 2009? I believe that we are nearing the point of irreversible momentum in the rapid development of the Iraqi economy. Our goal is to continue to support private sector development, banking development, foreign investment, and industrial revitalisation and privatisation. We hope to be able to ‘fade away’ in terms of our presence and direct support sometime this year, as the market takes over with the support of Iraqi institutions. Given the remarkable progress and resilience in the face of untold viol
