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Iraq Economy

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NEWS
October 9, 1994 | JAMES RISEN, TIMES STAFF WRITER
Behind Iraqi leader Saddam Hussein's latest act of military bluster lies the harsh reality of an economy imploding under the weight of international sanctions. Analysts and economists said Saturday that Baghdad's complaints about the sanctions reflect the very real hardships that four years of restrictions have placed on the country's oil-driven economy. Iraq's top diplomat, Deputy Prime Minister Tarik Aziz, said in a U.N.
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NATIONAL
August 3, 2006 | From a Times Staff Writer
A Times/Bloomberg poll found discontent with President Bush's leadership on a variety of key fronts, including the war in Iraq, with 60% disapproval, and the economy, with 59% disapproval. A poll question about immigration reflected the political complexity of the issue and the extent to which Bush's involvement in it seems to color the public's view.
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NEWS
September 11, 1990 | MARK FINEMAN, TIMES STAFF WRITER
In Iraq, the nation believed to have the second-largest oil reserves on Earth, you can no longer get the oil changed in your car--legally. With refineries shut down and such things as filters and hydraulic fluid no longer available, motorists are forced to rely on the black market. Bread lines--and now egg lines--are growing by the day. Tempers are getting short. In one line over the weekend in Baghdad's Jadriya district, a line formed at 2 a.m., and just after dawn a fight erupted.
BUSINESS
February 6, 2005 | James Flanigan
A week ago, millions of Iraqi citizens braved threats of violence to cast ballots in their nation's first multiparty elections in half a century. Rightly, many around the world cheered.
NEWS
November 30, 1990 | OSWALD JOHNSTON, TIMES STAFF WRITER
International sanctions against Iraq have an unusually high likelihood of succeeding, but it might take 18 months or two years before they could persuade Saddam Hussein to withdraw from Kuwait, a Washington economic think tank said Thursday. The Institute for International Economics estimated that the global oil embargo eventually will reduce Iraq's economy by nearly half--an amount 20 times the average impact of past "successful" embargoes in this century.
NEWS
December 29, 1990 | DANIEL WILLIAMS, TIMES STAFF WRITER
An odd counterpoint to the grim march toward next month's war ultimatum is the optimistic urge among Iraq's global economic partners to ensure that, after the Persian Gulf crisis ends, they will be able to resume lucrative business deals that developed here during the past decade. The hopes, expressed both publicly and in private messages from businesses and governments, are perhaps the only glimmer on the otherwise gray horizon of Iraqi foreign relations.
NEWS
December 16, 1990 | DANIEL WILLIAMS, TIMES STAFF WRITER
Food supplies in Iraq are probably adequate to carry the country to the spring harvest of wheat and barley, foreign diplomats say, while key industries can continue to operate for the foreseeable future using borrowed parts from broken-down installations. In interviews here during the past three days, half a dozen foreign observers agreed that the world trade embargo has not been in place long enough to bring Iraq's economy fully to its knees. The sanctions were imposed by the U.N.
NEWS
August 7, 1990 | DAVID LAUTER and ROBIN WRIGHT, TIMES STAFF WRITER
Five days into the nation's first post-Cold War crisis, President Bush has succeeded in implementing a strategy that eluded most of his predecessors--economic warfare. Although the possibility of moving U.S. military forces to the Persian Gulf has attracted a lion's share of public attention, the less dramatic use of economic power is the Bush Administration's chief hope for forcing Iraqi President Saddam Hussein to disgorge his conquest of Kuwait, officials say.
BUSINESS
October 12, 1994 | JAMES FLANIGAN
Saddam Hussein is shooting the Iraqi economy in the foot again. But the United States will feel the pain. And so, ultimately, this confrontation could force a shift in U.S. policy. By threatening Kuwait with troops, even though he appears to have backed off in the face of a swift U.S. response, the Baghdad dictator has made another disastrous move that will keep Iraq's oil exports bottled up and its economy hobbled by United Nations sanctions for another year or more.
WORLD
May 15, 2002 | WILLIAM ORME, TIMES STAFF WRITER
The U.N. Security Council voted unanimously Tuesday to impose new import controls on Iraq, overhauling a 5-year-old sanctions system that has been derided by the right as ineffectual and by the left as unfair to ordinary Iraqis. The new system features a catalog more than 300 pages long of products with potential military use that the Persian Gulf nation will not be allowed to purchase without specific approval.
WORLD
September 18, 2004 | T. Christian Miller, Times Staff Writer
The sharp rise in attacks on Iraq's oil pipelines in recent weeks has substantially impaired the country's production, dealing a blow to the economy and threatening the struggling reconstruction effort, U.S. and Iraqi officials say. Insurgents are bombing pipelines and other parts of Iraq's oil infrastructure almost daily, another sign that the country's security situation is deteriorating beyond the control of U.S. military and Iraqi security forces. U.S.
WORLD
September 15, 2004 | Tyler Marshall, Times Staff Writer
The Bush administration Tuesday announced plans to divert $3.4 billion in Iraq reconstruction money to shorter-term programs primarily aimed at improving security. The expected shift of funds affects just under 20% of the $18.4 billion approved by Congress in November for rebuilding Iraq's shattered economy. The majority of the diverted money -- $1.
OPINION
August 5, 2004 | Antonia Juhasz, Antonia Juhasz is a project director at the International Forum on Globalization in San Francisco and a Foreign Policy in Focus scholar.
Officially, the U.S. occupation of Iraq ended on June 28, 2004. But in reality, the United States is still in charge: Not only do 138,000 troops remain to control the streets, but the "100 Orders" of L. Paul Bremer III remain to control the economy. These little noticed orders enacted by Bremer, the now-departed head of the now-defunct Coalition Provisional Authority, go to the heart of Bush administration plans in Iraq. They lock in sweeping advantages to American firms, ensuring long-term U.S.
OPINION
April 24, 2004
Re "Bush's Tilt to U.N. Shifts Iraq Debate," April 21: President Bush's switch on Iraq "blurs distinctions between himself and Kerry"? I don't think so. Bush has lied (WMD, Hussein-Bin Laden connection), made backroom deals that benefit him and his cronies (flying Saudis out of the U.S. after 9/11, tax cuts for the rich, lowering environmental standards, high prescription medicine prices, efforts to cut overtime, Halliburton and Bechtel reaping contracts and the Saudi Arabian oil-for-winning-the-election connection)
WORLD
September 22, 2003 | Josh Meyer, Times Staff Writer
Iraq lurched toward the global free-market economy Sunday, announcing a program to establish an era of investment-friendly capitalism that would tell the world that the occupied country is building "a strong foundation for the future," Finance Minister Kamel Keylani said. The centerpiece of the initiative, which comes after approximately three decades of state-run socialism, is to open all sectors of Iraq's economy -- except oil -- to foreign investors.
WORLD
July 26, 2003 | Terry McDermott, Times Staff Writer
In the basin of the Shatt al Arab waterway, it's 90 degrees at dawn and rising. They call these midsummer weeks in southern Iraq the palm oven days because it's in the intense heat of July that the sweetness of autumn is made -- the dates cook, the sugars burn and the flavor cures. Kamal Ayoob Khaleel, one man alone against an orchard of a couple of hundred trees, has this day begun the year's date palm harvest, the first of the post-Saddam Hussein era.
NEWS
September 3, 1990 | MARK FINEMAN, TIMES STAFF WRITER
The knock came in the evening on the front doors of most Iraqi homes throughout the capital over the weekend, and the news was a mixed blessing--good for the West, bad for the Iraqis. It was the ration man from President Saddam Hussein's Arab Baath Socialist Party, and he had come to say that every vital commodity--flour, sugar and rice, in particular--could now be purchased only in limited quantities and from select shops. Virtually all the bakeries of Baghdad have closed.
BUSINESS
March 8, 1991 | TOM FURLONG, TIMES STAFF WRITER
If the cost of rebuilding Kuwait is staggering, it pales next to the likely price tag for repairing Iraq. The bill there may be at least twice as expensive and the task fraught with far more uncertainties. Allied bombing raids crippled Iraq's industrial and civil operations, demolishing as many as three-quarters of its power plants, refineries and water pumping stations, Middle East experts say. The repair cost is expected to be $100 billion to $200 billion or more.
NEWS
April 12, 2003 | Warren Vieth, Times Staff Writer
In the Persian Gulf port of Umm al Qasr, where local dockworkers are now being paid in U.S. dollars instead of "Saddam" dinars, the transformation of Iraq's economy has already begun. It won't stop there. An advance team of 13 Treasury Department specialists is about to enter Iraq to gather intelligence about its cloistered economy.
NEWS
April 3, 2003 | From Bloomberg News
Among the first American civilians landing in Iraq after the war ends will be a team of about a dozen Treasury Department economists. Their mission: help stabilize the country's currency, create a functioning central bank and lay the groundwork for an economy that can produce the jobs and prosperity promised the Iraqi people by President Bush.
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