Iraq: June 12, 2003

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Iraqs revived finance ministry reports that the country has foreign debts of $130 billion, mainly debts to France, Russia and China (mainly for weapons bought during the 1980s). The country has cash on hand of some $18 billion, including money in foreign banks. 

A constitutional convention will be held next month, where Iraqi notables, selected by the coalition, will decide what Iraqs new constitution will be. After that, elections can be scheduled once the local infrastructure is set up to hold honest elections. 

Coalition military operations overnight resulted in several armed Iraqis being killed and over 400 Baath Party supporters arrested. Most of these operations begin at night, because coalition night vision equipment gives coalition troops a notable edge at night. 

 

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