Iraq making progress.
United Press International (UPI UPI
United Press International ) reports that the International Monetary Fund (IMF IMF
See: International Monetary Fund
See International Monetary Fund (IMF). ) has expressed optimism about the future of Iraq's economy. This according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. an August 17, 2005 wire dispatch reporting on the an IMF review of the country's economy, the first in over 25 years.
The dispatch quoted an IMF official who said that he was "quite optimistic op·ti·mist
1. One who usually expects a favorable outcome.
2. A believer in philosophical optimism.
op " about the medium term. At the same time, the official cautioned that much would depend on the future course of oil prices. Under normal circumstances, Iraq is a major exporter of oil and higher world oil prices would benefit the country's growth.
Security concerns combined with political uncertainty about the role of oil revenues in the country's general economy combine to underscore the lack of confidence implied in the IMF official's comments.
The official did say that Iraq deserves credit for being able to maintain even a semblance of macroeconomic mac·ro·ec·o·nom·ics
n. (used with a sing. verb)
The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. stability under present circumstances.