Receding Stability In Iraq

June 2003
Middle East & Africa Financial Alert;6/30/2003, Vol. 2 Issue 39, p5
Industry Profile
Industry Overview
Events in Iraq last week continued to bear out BMI's fears, expressed even before U.S. and Great Britain forces entered the country, that the removal of Saddam Hussein's regime would not end the country's difficulties. The attack severely undermines hopes that foreign aid to speed the reconstruction of Iraq's shattered infrastructure and local administration can be delivered while the U.S./Great Britain military presence remains in place. This throws up the risk of a vicious circle being established, in which the combination of obstructed rehabilitation, and heavy-handed tactics by American and British troops, fuels steadily growing violence against any Western personnel in the country, making it ever more difficult to hand over to civilian rule. One official in the U.S.-run interim Iraqi administration last week acknowledged that infrastructure needs for 2003-04 are set to outstrip oil revenues significantly, while BMI has previously mentioned the prohibitively high cost (US $200,000 per soldier per annum) of maintaining armed forces in Iraq.


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