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August 3, 2004
Good News from Iraq, part 7
Chenkoff has the latest in his series up. This is a serious piece, and has also been published in the Wall Street Journal's web site, Opinion Journal.
I'll tease you with a few excerpts, but the piece is a must-read, so check it out in it's entirety
For every terrorist attack with all its terror and bloodshed there are countless stories of courage, determination, and resourcefulness on the part of the Iraqi people. And for every intelligence failure by the government agencies then, there is an intelligence failure by the media now. Which is why you are likely to have recently missed some of the stories below.
...
As planned, Iraq has opened its bond market, with the issue of the first post-war debt. 150 billion dinars ($104 million) were raised in three-month treasury bills at 5.5% interest rate. "Demand was healthy," according to the central bank's Chief Economist Mudher Kasim.
...
Meanwhile, the Iraqi stock market continues to expand: "The miniature Liberty Bell clanged. Elbows flew. Sweat poured down foreheads. Sales tickets were passed and, with a flick of the wrist, 10,000 shares of the Middle East Bank had more than doubled in value. The frantic pace Sunday of those first 10 minutes of trading typified the enthusiasm behind the Iraq Stock Exchange - a new institution seen as a critical step in building a new Iraqi economy."
...
"In recent months, Iraq's oil production has grown to more than two million barrels per day. At this rate, current oil output and oil exports now exceed post-invasion predictions. Experts had argued that funding shortages, lack of security, the problems of stabilizing a legitimate government, and technology shortfalls would severely limit Iraq's output. Despite the odds, Iraq's daily output reached a post-invasion record of 2.5 million barrels in March.
...
Read also the story of Iraqi Second Battalion, which patrols Doura, one of Baghdad's rougher neighborhoods: "In the past people on the streets did not greet us. Now we get a good reaction. They welcome us. Maybe they are proud of us," says Maj. Mehdi Aziz. More here about the US Army efforts to build the new Iraqi army from scratch.
Posted by Tom at August 3, 2004 10:17 PM
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