Iraq reconstruction remains elusive as corruption depletes finances


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Issue 979 - 17 Oct 2014 | 3 minute read

Fiscal and monetary issues may seem irrelevant while (according to most external narratives) Iraq’s very existence within Sykes-Picot borders is being challenged by Islamic State (ISIL or ISIS) and Kurdish calls for independence. But Baghdad’s response to the challenge of restoring its depleted finances and tackling astonishing shortfalls in governance could prove just as important in shaping the region’s future.A senior, federalist-inclined Kurdish policymaker observes that an “almost empty” treasury in Baghdad will be incapable of providing the funds Prime Minister Haider Al-Abadi needs, if he is serious about rebuilding Iraq.

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