New Steps in the U.S. Takeover of the Iraqi Economy

November 10, 2019

A new agreement was signed between the Export-Import Bank of the United States (EXIM) and the Iraqi Ministry of Finance on October 16. The stated aim of the agreement is to provide $5 billion in additional financing for U.S. corporate contracts in the coming period.

In order to praise the U.S. process of taking over the Iraqi economy at this time, EXIM President and Chairman Kimberly Reed said, “This MOU signals to the marketplace that U.S. companies and their workers in America want to be a part of the rebuilding effort in Iraq. We anticipate that the EXIM-backed financing to follow from this agreement will support exporter and supply-chain jobs in multiple industries across the United States and also foster job creation in Iraq. Iraq is an important partner to the United States, and we look forward to working together to strengthen the relationship between our two countries."

Of course, this is not mere wishful thinking given that the military occupation is there to guarantee that result at the point of a gun.

Rather than "defeating terrorism" as the public relations men for the war have advertised, the war, occupation and robbery of Iraq at the hands of U.S. imperialism is sowing the seeds for new wars, devastating the Iraqi economy and imposing untold hardship, death and misery on the people.

The U.S. government is carrying out this "civilizing mission" in Iraq not because of "weapons of mass destruction" nor to "liberate the Iraqi people," but to grab the oil and set up a "free market" base for U.S. capitalism to penetrate the Middle East.