Iraq’s northern Cinderella

by Riad Al-Khouri January 3, 2009

written by Riad Al-Khouri January 3, 2009

With the Crash of ‘08 ushering in the 2009 worldwide slump, it is clear that the economic crisis will hit richer countries more than others. According to the Organization for Economic Co-operation and Development (OECD), 2009 growth estimates for the United States, Iceland, and Switzerland, are respectively -1 percent, -9 percent and zero percent, while for China, India, and Indonesia they are eight percent, seven percent and five percent. In the European Union, it is noteworthy that wealthy Holland and Britain are set to do badly next year, with projected growth of zero percent and -1 percent respectively, while relatively poor Slovakia and Poland are due to expand at four percent and three percent. Though this is not an absolute rule — for example lowly Portugal will not do well in 2009, growing at zero percent, while better off Slovenia is set to expand by two percent. It is interesting

Riad Al-Khouri

Riad al Khouri is an economist specializing in the Middle East and North Africa region. He has undertaken extensive research on regional trade and political economy, among other topics, and writes widely about development issues. He taught economics at the American University in Beirut (AUB) and Beirut University College (now the Lebanese American University) and worked as a consultant for the European Commission, ESCWA, GTZ, ILO, IOM, OPEC Fund, UNDP, UNIDO, USAID, and the World Bank, among many other public sector organizations, as well as for numerous private firms.

Iraq’s northern Cinderella

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