Foreign Correspondence

[fuagf]

Iraqis suffer soaring inflation - 08 Dec 2007

Iraq's Central Bank to reduce interest rate
Thursday, December 25, 2008

BAGHDAD - The Central Bank of Iraq says it will reduce its interest
rate by 1 percentage point to 14 percent, starting next year.

The decision reflects declining inflation. The bank statement Thursday says that inflation
in November sunk to 12.7 percent from the 13.6 percent registered in the previous month.

Inflation roared as high as 69.6 percent at the end of 2006, but fell sharply to 32
percent in early 2007 and then to 11 percent at the beginning of this year when Iraq's
central bank adopted a package of financial measures, including high interest rates.
http://www.istockanalyst.com/article/viewiStockNews/articleid/2908368

inflation down is a plus, but let's not forget millions "dirt poor" and that food prices
rocketed in 2007, 100% up on potatoes and apples in 2007, duh, thanks very much ..

before war 50% had inadequate water supplies, now some 70%, was cholera in the capital .. mother, repairing the
roof on her house in Mosul, only one of my six children went to school, there is food and transport, "it is not easy" ..

only about 10% of those desperately needing help were getting it last year, 200000 of 2 million ..

black market petrol before war $0.50, late 2007 almost $1

Government has decided that Saddam's ration card system is no longer
affordable and is cutting the items available, like tea and rice, from 10 to 5.

Seeing the situation in 10 years doesn't really mean that much, as
we don't what would have been if things had been handled differently.

Don't forget that many, many, many only joined the violence
against the invaders just simply because the invaders invaded.

Then there is not the greater Afghanistan, after some 8 years war.

That said, MERRY CHRISTMAS EVERYONE!!

Carol Of The Bells - Trans Siberian Orchestra