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Established central bank new currency { October 11 2003 } Original Source Link: (May no longer be active)
http://www.signonsandiego.com/news/politics/20031011-0014-bush-iraq.htmlhttp://www.signonsandiego.com/news/politics/20031011-0014-bush-iraq.html
Bush touts new Iraq currency as sign of progress
By Caren Bohan
REUTERS
12:14 a.m. October 11, 2003
WASHINGTON – President Bush, seeking to bolster public support for his Iraq policies, on Saturday hailed the launch of the country's new currency as a sign of economic promise.
Facing doubts at home about its Iraq policies and the proposed $87 billion cost for the country's rebuilding, the Bush administration is waging a public relations campaign aimed at highlighting successes of the postwar effort.
Bush cited as a major milestone the plans to issue fresh Iraqi dinar notes that will no longer bear the image of Saddam Hussein, whom the United States ousted from power in April.
"We're helping Iraqis to rebuild their economy after a long era of corruption and misrule," Bush said in his weekly radio address. "For three decades, Iraq's economy served the interest only of its dictator and his regime."
"The new currency symbolizes Iraq's reviving economy," he said.
Bush said the new currency would help unify Iraq, which had previously used two different versions of the dinar in different areas.
The U.S. president has seen his poll ratings drop recently as his critics have charged he failed to plan adequately for Iraq's security needs and for the cost of its rebuilding. U.S. soldiers are dying in daily attacks.
Bush earlier this week overhauled his management of Iraqi reconstruction. The reorganization gives more of a direct say to the White House while appearing to dilute some of the Pentagon's power.
"With our assistance, Iraqis are building the roads and ports and railways necessary for commerce," he said.
"We have helped to establish an independent Iraqi central bank. Working with the Iraqi Governing Council, we are establishing a new system that allows foreign investors to confidently invest capital in Iraq's future."
He said the country had bustling market places and stores stocked with everything from "clothing and linens to air-conditioners and satellite dishes."
A key House of Representatives panel this week approved Bush's $87 billion spending request for Iraq and left out a proposal – which Bush opposed – that would have forced Iraq to repay funds given to it for reconstruction.
The move cleared the way for the bill to be considered by the full House and the Senate next week but the debate is sure to be contentious.
Democrats have lambasted Bush for proposing to spend billions on health care and job training in Iraq when they feel that such programs within the United States are getting short shrift. A number of Republicans are unhappy with the idea of handing over reconstruction cash to Iraq, without demanding eventual repayment.
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