Inside lraq’s Cash Economy: Fully Reserved Banking in a Monetary Dystopia</h1> <article> <h1>Inside lraq’s Cash Economy: Fully Reserved Banking in a Monetary Dystopia</h1> <p>2016-05-02T13:08:00+00:00</p> <p>As is the case in many conflict and post-conflict economies, in Iraq the private sector is primarily cash-based. Bank financing is unavailable for all but the largest companies and even then is limited mainly to overdraft facilities.</p> <p class="feed-readmore"><a target="_blank" href ="">Read More...</a></p> </article> <article> <h1>Iraqi Kurdistan Economic Report 2016: Kurdistan's Great Recession</h1> <p>2016-01-08T13:08:35+00:00</p> <p>Not long ago, the future looked bright for the Kurdistan Region of Iraq (KRI). Long an oasis of peace in an otherwise unstable region, by 2013 the three Kurdish provinces of Erbil, Sulaimaniyah, and Dohuk had become the most prosperous part of the country. Not only were they developing their own oil and gas resources but they were also diversifying into non-oil sectors such as cement, tourism, and real estate. In the major cities consumers were flush with cash—business was booming at shopping malls, car dealerships, gold shops, hotels, and restaurants. Iraq’s tallest apartment and office buildings were under construction. The region’s dream of becoming the “next Dubai” seemed to be fast becoming a reality.</p> <p> </p> <p class="feed-readmore"><a target="_blank" href ="">Read More...</a></p> </article> <article> <h1>Economic Development of Iraqi Kurdistan and Investment Opportunities</h1> <p>2014-01-23T13:53:02+00:00</p> <div><a href="economic-development-of-iraqi-kurdistan-and-investment-opportunities.htm"></a> <div> </div> <p>Seven billion dollars was invested in the city of Erbil in the last eight years. The effect of this investment can be seen in the infrastructure and construction of the city. Furthermore, about 65% of an $18 billion investment to support the private sector was spent on Erbil.</p> <p class="feed-readmore"><a target="_blank" href ="">Read More...</a></p> </article> <article> <h1>$25 Billion Spent on Development of Erbil Governorate Between 2004-2012</h1> <p>2014-01-03T00:00:00+00:00</p> <p style="line-height: normal; text-align: left; font-family: arial,helvetica,sans-serif; font-size: 12px;"><a href="25-billion-spent-on-development-of-erbil-governorate-between-2004-2012-2312.htm"></a></p> <p style="line-height: normal; text-align: left; font-family: arial,helvetica,sans-serif; font-size: 12px;">$25 billion had been spent on the development of the Erbil governorate in between 2004 and 2012, resulting in profound changes in different sectors, including construction and infrastructure, which predisposed Erbil to become an important trade center not only for Iraqi Kurdistan but for all of Iraq; thus becoming, for some, the economic capital of Iraq. Accommodating 37 nationalities and 27 consulates, Erbil boasts with an unemployment rate of about 5% and was named the tourism capital of 2014.</p> <p class="feed-readmore"><a target="_blank" href ="">Read More...</a></p> </article> </main></body></html>