Iraq

As we move towards the end of the year, Iraq looks no closer to forming a government, which is set to affect its economic progress, as investors become increasingly nervous in the run-up to the withdrawal of the remaining 15,000 US troops. There are numerous challenges ahead, and although the global economic climate looked, at the time of writing, fairly supportive, there remains considerable uncertainty. The US recovery seemed to be faltering, and our Asia team is sceptical about the sustainability of Chinese demand growth. Government spending should be a key growth driver over the coming years regardless, but this

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