teknolojiarsivi.com
teknolojiarsivi.com February 18, 2018


Iraqi reconstruction to cost $88 billion

15 February 2018, 12:18 | Floyd Cook

US State Department Spokesperson Heather Nauert

Tillerson to address Iraq Reconstruction Conference but promise no US money

Rebuilding Iraq after years of war and economic turmoil will cost $88.2 billion, the director-general of the country's planning ministry, Qusay Abdulfattah, told an worldwide conference in Kuwait today. Iraq's exact economic situation is very hard to know because of lack of transparency, but its GDP is estimated at $192 bn for a population of roughly 32 million, for a per capita income of $6,000 a year.

Opec's second-largest oil producer behind Saudi Arabia - will be looking to attract investment mostly in the downstream, planning the construction of new refineries with different capacities, including one at the Al Faw Port with a 300,000-bpd (barrels per day) capacity. Only half have returned to their hometowns in Iraq. Around $25 billion went to Iraq's military, which disintegrated during the lightning 2014 offensive of the Islamic State group, which grew out of al-Qaida in Iraq. Yet now the U.S. does not want to contribute a dime to the recovery of the country. Former High Official of the U.S. Agency for International Development (USAID) Jeremy Konyndyk has warned that not helping with reconstruction could set the stage for "a new insurgency". The Middle East as a whole, especially countries like Kuwait whose deep pockets rely on oil production, have taken a hit in recent years as energy prices crashed and only recently began regaining ground. United States corporate giants have already made a killing through their exploitation of Iraq's oil reserves and in rebuilding after the ouster of Saddam.

The Director General of the Iraqi Ministry of Planning Qusay Abdulfattah said at the conference that the reconstruction of Iraq requires 22 billion dollars urgently in the short term, and 66 billion dollars in the medium term. It announced $330 million alone had been pledged Monday for Iraq at a humanitarian conference in Kuwait City.


After the destruction of Tikrit, Ramadi, Falluja and Mosul (and Falluja had already been destroyed in 2004 by the Americans), Iraq needs to make massive investments in the Sunni Arab regions if it is to regain the loyalty of the people there. If you believe in collaboration to produce quality neutral journalism for everyone, it is important that you sign up to support our work financially.

But Iraq needs more than just cash as thousands remain held after the rout of the Islamic State group, including women and children. "We know we can not provide it through our own budget", he said at the World Economic Forum in Davos, Switzerland last month. We were there to participate in the coalition (against IS).



Other News

Trending Now

Rising metal prices add gloss to Rio Tinto profit
The stock now shows its YTD (Year to Date) performance of 4.27 percent, whereas its Weekly performance stands at -1.74%. The Higher end of the revenue forecast is $40.78 Billion, while the Lower end of the forecast is $38.93 Billion.

HBO delivers Time Warner earnings boost
Advisory Services Network LLC increased its position in Time Warner by 1.8% in the second quarter. (NYSE: TWX ) for 1,696 shares. The institutional investor owned 19,908 shares of the media conglomerate's stock after selling 91,741 shares during the period.

A hot cuppa increases risk of oesophageal cancer, study finds
As several experts have commented, most oesophageal cancers in the United Kingdom are adenocarcinoma rather than squamous cell. But the IARC did find that hot beverages ( at least 149 degrees ) "probably" cause cancer of the esophagus.

Fake doctor in India may have infected 21 people with HIV
India has registered a 20 per cent annual decline in new infections over the past few years, according to the report. Villagers whined that he would give infusions for all afflictions for small installments, Choudhury said.

'Frasier' Star John Mahoney Has Passed Away
Actor Kelsey Grammer had some heartfelt words to say about the passing of John Mahoney , who played his father on Frasier . Other film credits include Eight Men Out (1988), Say Anything (1989), Reality Bites (1994) and Dan in Real Life (2007).

'Hazardous' asteroid heading for earth is larger than a blue whale
Although 2018 CB could be up to twice the size of that one, this asteroid will be tens of thousands of miles from earth. Anything that comes closer than 4,650,000 miles of Earth is classified by NASA as a "near-Earth object" (NEO).

Venezuelan govt, opposition talks on ice, says Dominican president
The government, meanwhile, accused opposition leaders of taking orders from Washington to abort the talks. The elections were originally scheduled for December.

Pro-Assad Forces In Syria Attack US Troops, Leave Sadder But Wiser
Coalition officials alerted Russian officials of the SDF presence via the deconfliction line in advance of the attack, White said. USA military officials said the attacks, which began late on Wednesday, were conducted to "repel acts of aggression".

U.S. wins first mixed doubles curling game
We are playing good, consistent curling and grinding out some good wins, Morris said. Can I get a #HamFam?! "Wang Rui is young.this is her first Olympics".

Obamas Unveil Official Portraits, Reveal Lasting Legacy
I appreciate artistic freedoms, but I feel these portraits need to be more representative of the subjects being painted. We should also condemn the Obamas' commissioning of such an individual to paint their official portraits.