Food and goods prices in Baghdad are rising as the Arab summit approaches, reports AKnews.
A member of the Iraqi parliament’s finance committee said citizens have started to complain about the hike in prices, adding that the government should take action to stabilize market prices.
One resident told the news agency that “rising food and goods prices have affected citizens badly”, while another said “prices of groceries have nearly doubled”.
The price of one kilogram of apples in Baghdad has shot up from 1,250 Iraqi dinars to 2,500.
The Arab summit is scheduled to be held in Baghdad on Thursday. Iraqi authorities have taken strict security measures and cut off several roads on the outskirts of Baghdad to tighten security.
Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.
Next week’s Arab League Summit in Baghdad is a very significant moment in Iraq’s development.
Quite apart from any discussions and resolutions at the conference itself, the staging of the event in Iraq for the first time since 1990 demonstrates the acceptance of an independent Iraq into the community of Arab states.
But the conference comes with costs, the most obvious of which is the human cost of the terrorism intended to disrupt the event. For several days, Baghdad will effectively be on lockdown, with security the top priority. Our Expert Blogger, John Drake, has advice for anyone staying in the capital over this period.
In the meantime, Iraq Business News will keep you up to date with developments.
As security measures are heightened ahead of the Arab League Summit in Baghdad levels of violence fell in Iraq last week with 26 people killed and 22 injured in nationwide incidents. This was a drop by half from the previous week and a very low figure in general for the country.
However, a spate of attacks swept the country on 20 March, killing at least 50 people and injuring over 250. The bombings have been claimed by al-Qaeda in Iraq and as analysed on Iraq Business News were likely an attempt to discredit the government. Many are now questioning the security measures put in place ahead of the summit although at the time of writing the event is still set to go ahead. To cancel it at this stage would constitute a major loss of face.
Managing Traffic The government has announced that a public holiday will begin on 25 March, lasting beyond the course of the event. Official buildings will be closed and traffic congestion in Baghdad will be reduced as a result. This will make it easier for the security forces to manage the traffic and search more vehicles moving around the city. This is turn will hopefully make it more difficult for terrorists to infiltrate, but travel conditions will still be difficult for the personnel who continue to work in the capital.
Weekly Attacks in Iraq - the last 6 months. Note the decline in violence over the past week. Next week's bar will likely see a notable rise.
Violence Last Week In the run-up to the latest assault conditions were relatively quiet countrywide. Only six bomb attacks were recorded last week, which is less than a third of the usual weekly figure. For a change, more people were killed in shooting attacks than in bomb blasts, with 18 people shot dead and 14 injured against only seven killed and eight injured by explosive devices over the course of the week.
Geographical Distribution Attacks were concentrated in the northern cities of Mosul and Kirkuk, with a scattering of attacks in districts surrounding the capital. Basrah also saw a demonstration on Monday as local residents and attendees from elsewhere in the southern provinces gathered to complain of a lack of development and high unemployment in the oil-rich region.
A number of blasts have also been reported in the city although they appear to have slipped under the radar of in-country news coverage. No casualties have been reported but security has been increased around central Basrah in response and personnel are reminded that conditions are neither ‘safe’ nor ‘stable’ in what should otherwise be considered a city with strong economic opportunities. Companies are still encouraged to look to the city as a good investment, but proper risk mitigation measures need to be put in place prior to any serious investment.
John Drake is a senior risk consultant with AKE, a British risk mitigation company working in Iraq since 2003. You can access AKE’s intelligence website Global Intake here, and you can obtain a free trial of AKE’s Iraq intelligence reports here.
After a long series of attacks against the police, it is the Iraqi government which appears to have been the primary target in the latest bout of attacks in Iraq. A spate of at least 26 bombings and shootings around the country left dozens of people dead on 20 March. Incidents were recorded in Abu Ghraib, Baghdad, Balad Ruz, Bayji, Daquq, Dhulu’iyah, Hillah, Karbala, Latifiyah, Mosul, Muqdadiyah, Ramadi, Samarra, Tikrit and Tuz Khurmatu, stretching from Ninawa in the north to Babil in the centre of the country.
Targeting While the police were amongst those targeted in the attacks, the provincial government, councillors and even the Ministry of Foreign Affairs were also singled out. Given the co-ordination of the attacks at a time of heightened security in the country it is likely that a large organisation was responsible. Suspicion falls on al-Qaeda in Iraq, given the tactics and targeting. If they are indeed behind the attacks their motive would likely be an attempt to discredit the government and send a signal to the many world leaders looking to visit Baghdad for the upcoming Arab League Summit on 27-29 March.
Attacks in Iraq - 20 March 2012
The Government Response In the aftermath of the violence security has been tightened even further and traffic conditions are reported to be chaotic in the capital. As well as an existing curfew on motorbikes and carts in Baghdad, the government announced earlier today that the country is to have a national holiday for one week from 25 March. Ministries will shut so government workers do not need to travel to work. This will likely limit congestion, but with additional security checks it is likely that travel will still be subject to disruption. Furthermore, terrorist groups will still likely be able to conduct attacks. They continue to defy the increased security procedures of the government to great effect.
AKE Advice Personnel should factor in additional time for any planned movements, and try to minimise non-essential travel around Baghdad at this time. Organisations which continue to work during the holidays may also wish to provide temporary accommodation for their Iraqi staff at their place of work so that they can avoid the anticipated commuter disruption of the coming weeks. It is also advisable to stock up on non-perishable foods, medicines and other supplies in case it becomes difficult to obtain such goods during the holiday.
John Drake is a senior risk consultant with AKE, a British risk mitigation company working in Iraq since 2003. You can access AKE’s intelligence website Global Intake here, and you can obtain a free trial of AKE’s Iraq intelligence reports here.
This article was written by Abeer Mohammad, and was originally published by the Institute for War and Peace Reporting, iwpr.net. It is reproduced by Iraq Business News with permission. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Iraqi officials are hoping that hosting the first Arab League summit after the wave of revolutions that swept through the Middle East and North Africa will increase their country’s standing in the region.
“It is very important for Iraq to host this particular summit at this particular time,” Ali al-Mosawi, a media advisor to the Iraqi government, said. He noted that this meeting would see “some officials meet others for the first time” – a reference to new leaders who have emerged from revolutions in Arab states over the last year.
Mosawi said the three-day forum in Baghdad, starting March 29, would discuss the continuing unrest in Syria and Bahrain, and Palestinian issues. Syrian president Bashar al-Assad has not been invited.
The agenda also includes restructuring the Arab League itself, after criticism of the way it has acted over the last year.
“Its hierarchy will be reviewed for the first time since it was established more than 50 years ago,” Mosawi said.
For Iraq, the meeting – especially coming at such crucial moment for the region – presents an opportunity to bolster its relations with the rest of the Arab world.
Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications.
