IRAQ IS MAKING ALL THE RIGHT MOVES
Iraq's Proven Oil Reserves are over $10 Trillion Dollars
A vibrant country with a highly educated population of just over 22 million people. Released from the repressive regime of Saddam Hussein, Iraq has the potential to become a $70 billion dollar a year economy, with one of the largest oil and gas reserves in the world, second only to Saudi Arabia.
Major industrial nations from around the world are present in Iraq, either as military or civilian support, to assist Iraq in its desire to establish a safe, secure and economically sound country. Trillions of dollars have already been pledged for repair and restoration. Reconstruction of the infrastructure including power; water; road and highways; IT and phone systems; and health and human services, has already begun.
The United States has pledged over $18 Billion, military and civilian support, debt relief and economic ties that will give Iraq the capability to develop it's potential as a $70 billion a year economy, one of the largest in the region.
Iraq is quickly establishing beneficial relationships in an effort to export its oil and gas reserves through already established pipelines in its neighboring countries.
The monetary system established by the new government encourages foreign investment, a key to develop a strong economy.
CBI - Central Bank of Iraq
The Central Bank of Iraq is an independent agency, not affected by the political parties of the many factions in Iraq.
Stock Market. ISX - Iraqi Stock Market
In 2006 a new stock market opened with record trading volumes pushing stock prices drastically upwards for the 27 firms listed, with over 2 billion shares changing hands in only 6 trading sessions. In August 2007 the ISX opened its doors to foreign investors. 2013 ISX is now fully electronic and expected to be linked up with other bourses in the region and around the world shortly. ISX now trades 5 days a week. Today in 2013 there is now 94 companies listed and many more in the pipeline including various nationalised industries.
The central bank of Iraq offered its first treasury bonds on July 18th, with broad participation of the private commercial banks of Iraq.
Real Estate/Property Market.
Real estate in Iraq is booming, largely because of the severely depressed prices due to the restrictive policies of the old regime. With money flowing into Iraq, citizens are now buying houses in neighbourhoods generally reserved for government officials.
With the new government firmly in place, the reconstruction of the infrastructure including rebuilding many of the major oil fields is steadily going forward. Iraq has signed tentative agreements with international oil companies to exploit its vast oil reserves.