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CNN Live At Daybreak

Iraqis React to Donors Conference

Aired October 23, 2003 - 06:38   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.


CAROL COSTELLO, CNN ANCHOR: In Madrid, Spain this hour, at least 58 nations are discussing contributing funds to help rebuild Iraq. It's estimated Iraq will need at least $36 billion over the next four years.
We want to see how the Iraqis are reacting to this international effort to raise money for their country. Ben Wedeman live in Baghdad.

And, Ben, it doesn’t look like they're going to raise much money at that Donors Conference.

BEN WEDEMAN, CNN CAIRO BUREAU CHIEF: Well, the U.S. officials certainly are downplaying the possibility that they'll actually be reaching their goals for fund-raising at that meeting.

But here in Iraq, no one is more aware of Iraq's need for money and assistance than the Iraqis themselves. And the Iraqis are also bitterly aware that there is a certain amount of irony in the fact that a country with the second-largest proven oil reserves in the world has to go before all of these donor representatives and essentially ask for money.

Now, one indicative -- one article we saw this morning indicative of that bitterness was an article by a columnist in the "El Zeman" (ph) newspaper, who said that the Iraqi officials are going to Madrid like naked and barefoot beggars. He said the country's wealth, which, of course, is very significant but it's all under the ground, has been squandered over the last 30 years on useless wars, on oppression and waste by the previous regime.

So, they certainly do want to see money come in, but there is a good deal of wounded pride here -- Carol.

COSTELLO: Well, Ben, let me ask you this: There has been much talk about part of that money coming in the form of loans. How do the Iraqi people feel about that?

WEDEMAN: Nobody is happy about that. Iraq, in fact, already has huge debts to pay to various international creditors. Estimates begin at about $200 billion. That puts Iraq above the category of Argentina and Brazil, some other significant debtor nations.

So, really, they want to avoid at all costs running up even more debts, and, of course, those debts will have to be paid out of the revenue that Iraq hopefully -- is hoping to get eventually from their oil revenues -- Carol. COSTELLO: Well, one last question for you. I talked with a member of the European Union, and he told me that Europeans would be crazy to give money until the security situation is brought under control in Iraq. Don't the Iraqi people have a responsibility to help out with that?

WEDEMAN: Well, certainly they understand that they would be the first beneficiaries to make the situation more secure here. But ultimately, it is the coalition led by the United States that has it within its power, trying hard enough to bring the security situation under control.

And we have seen the coalition working to try to reinforce, to strengthen, to build up the Iraqi police force and the army, but that's going to take time. And obviously, time is not on the side of these donor countries -- or rather, the Iraqi officials, who have gone to Madrid to try to convince those donor nations, and particularly the European Union which is very wealthy and generous, to come and put their money and help Iraq rebuild -- Carol.

COSTELLO: All right, Ben Wedeman reporting live for us from Baghdad this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.






Aired October 23, 2003 - 06:38   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: In Madrid, Spain this hour, at least 58 nations are discussing contributing funds to help rebuild Iraq. It's estimated Iraq will need at least $36 billion over the next four years.
We want to see how the Iraqis are reacting to this international effort to raise money for their country. Ben Wedeman live in Baghdad.

And, Ben, it doesn’t look like they're going to raise much money at that Donors Conference.

BEN WEDEMAN, CNN CAIRO BUREAU CHIEF: Well, the U.S. officials certainly are downplaying the possibility that they'll actually be reaching their goals for fund-raising at that meeting.

But here in Iraq, no one is more aware of Iraq's need for money and assistance than the Iraqis themselves. And the Iraqis are also bitterly aware that there is a certain amount of irony in the fact that a country with the second-largest proven oil reserves in the world has to go before all of these donor representatives and essentially ask for money.

Now, one indicative -- one article we saw this morning indicative of that bitterness was an article by a columnist in the "El Zeman" (ph) newspaper, who said that the Iraqi officials are going to Madrid like naked and barefoot beggars. He said the country's wealth, which, of course, is very significant but it's all under the ground, has been squandered over the last 30 years on useless wars, on oppression and waste by the previous regime.

So, they certainly do want to see money come in, but there is a good deal of wounded pride here -- Carol.

COSTELLO: Well, Ben, let me ask you this: There has been much talk about part of that money coming in the form of loans. How do the Iraqi people feel about that?

WEDEMAN: Nobody is happy about that. Iraq, in fact, already has huge debts to pay to various international creditors. Estimates begin at about $200 billion. That puts Iraq above the category of Argentina and Brazil, some other significant debtor nations.

So, really, they want to avoid at all costs running up even more debts, and, of course, those debts will have to be paid out of the revenue that Iraq hopefully -- is hoping to get eventually from their oil revenues -- Carol. COSTELLO: Well, one last question for you. I talked with a member of the European Union, and he told me that Europeans would be crazy to give money until the security situation is brought under control in Iraq. Don't the Iraqi people have a responsibility to help out with that?

WEDEMAN: Well, certainly they understand that they would be the first beneficiaries to make the situation more secure here. But ultimately, it is the coalition led by the United States that has it within its power, trying hard enough to bring the security situation under control.

And we have seen the coalition working to try to reinforce, to strengthen, to build up the Iraqi police force and the army, but that's going to take time. And obviously, time is not on the side of these donor countries -- or rather, the Iraqi officials, who have gone to Madrid to try to convince those donor nations, and particularly the European Union which is very wealthy and generous, to come and put their money and help Iraq rebuild -- Carol.

COSTELLO: All right, Ben Wedeman reporting live for us from Baghdad this morning.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.