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Article: How to establish a credible Iraqi Central Bank: the argument for inflation targeting. (The World).
- Article from:
- The International Economy
- Article date:
- June 22, 2003
- Author:
CopyrightCOPYRIGHT 2003 International Economy Publications, Inc. 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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The vaults of the Central Bank of Iraq have played a role in some colorful news stories that have appeared in recent months. First, there is the claim that on the night of March 18, 2003, one of Saddam's sons made what has been euphemistically described as the "illicit withdrawal" of $900 million in $100 bills, 100 million [euro] in euro notes, and an indeterminate amount of gold bullion. If this actually happened, it was surely quite a job to load this into the three tractor-trailer trucks that it took to cart the money away. And then there is the story of the jewels and gold of the 2,800-year-old Assyrian Treasure of Nimrod that was rescued after workers pumped nearly ...