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Iraq's Economic Surge - EVENT IS CANCELLED!!!
With an Address by Under Secretary of the Treasury David McCormickStart: Wednesday, March 12, 2008 9:00 AM End: Wednesday, March 12, 2008 11:00 AM Location: Wohlstetter Conference Center, Twelfth Floor, AEI
1150 Seventeenth Street, N.W., Washington, D.C. 20036
Directions to AEIDecember 2007 marked the lowest number of U.S. casualties in Iraq since the start of the war in 2003. The “surge” strategy has pushed insurgent forces out of Baghdad and the Sunni-led “Anbar Awakening” has dramatically undercut terrorist efforts in some rural areas. The recent passage of several important pieces of legislation by the Iraqi parliament--breaking previous deadlocks to pass a budget and offering amnesty to detainees not accused of serious crimes--has signified the beginning of long-awaited political progress.
Success in Iraq transcends the military and political realms, however. Housing values, pushed up by the return of tens of thousands of Iraqis, have spiked throughout Baghdad; in the Karrada neighborhood, a 2,300-square-foot plot of land by itself now costs $350,000. Iraqi oil production has reached 2.4 million barrels a day, its highest level since the beginning of the war. The International Monetary Fund predicts that Iraq’s economy will grow by 7 percent this year, compared to a mere 1.3 percent in 2007. What does this economic progress portend for Iraq? What has propelled recent economic success? How can the United States help sustain the momentum of Iraq’s economy?


http://www.aei.org/events/type.upcom...ent_detail.asp