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Article: Financial co-ordinator defines initial tasks. (Iraq Reconstruction).(Peter McPherson)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- May 2, 2003
CopyrightCOPYRIGHT 2003 MEED Middle East Economic Digest. All Rights Reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Financial co-ordinator for Iraqi reconstruction Peter McPherson, appointed by the US Treasury at the end of April, said in Baghdad on 29 April that there are seven key objectives in the drive to establish financial stability in the country. They are:
* A sound national currency backed up by central bank reserves. The Office of Reconstruction and Humanitarian Assistance (ORHA) has announced that transactions can be conducted in any of three currencies: the existing Iraqi dinar; the so-called Swiss dinar, featuring pictures of previous rulers; and the dollar. The US Treasury believes an estimated $500 million worth of dollars is in circulation. The Treasury plans ...