Security Will Delay Iraq Rebuilding, Report Says

Thu October 9, 2003 09:23 PM ET

Reuters) - Turning Iraq's economy around will take longer than the four years recently estimated because the country is so unsafe, a World Bank and United Nations report said on Thursday.

And without security, progress to improve health, education, electricity and clean water may be too slow convince Iraqis of the benefits of an open and democratic society, the two institutions warned.

In their final assessment of the cost of rebuilding Iraq's economy, the bank and UN have estimated it will take $36 billion over four years to get the war-torn economy up and running again."

<snip>

"Washington has pledged to contribute $20 billion over 12 to 18 months but experts believe the rest of the world may only commit $2 billion at most for the initial one-year period.

The UN and World Bank report takes into account Iraq's draft 2004 budget which assumes oil revenues of $12 billion based on output of 2.7 million barrels per day by the end of next year. It also assumes Iraq's outstanding external debt is at least $70 billion, mostly owed to governments."

<snip>

Hmmm - 3 weeks of bombs creates a four-year plus crisis

Doesn't seem like good planning to me!

(sigh)

such good progress, too!

Ms Rice is in charge now.

Everything's gonna be just hunky-dory.