The country has a huge budget surplus. Why isn’t it paying for its own reconstruction?
By Linda J. Bilmes and Joseph E. Stiglitz
August 15 2008
Across the Middle East, from Abu Dhabi to Yemen, the dizzying rise in oil prices has fueled a construction and employment boom. Yet in Iraq, one-quarter of the population remains jobless, and Baghdad gets only 11 hours of electricity a day. Four million Iraqis have been displaced from their homes and are urgently in need of resettlement. After five years of war, the country is still desperately in need of rebuilding.