(Wall Street Journal) Jay Solomon - A flood of Iraqi refugees and their money have fueled an economic boom in the Hashemite kingdom. The combustible mix of refugees, hot money, and terror is part of a broader convulsion throughout the region, radiating out of Baghdad. Since the U.S. invasion in March 2003, Amman's population has grown by a third. Jordan's economy grew nearly 8% in the first half of this year, double the pace before the war. The market capitalization of the Amman Stock Exchange has more than tripled to $37 billion in just two years. U.S. authorities worry that Amman has become a money-laundering center for ill-gotten Iraqi wealth, to the tune of billions of dollars.
2005-11-11 00:00:00Full ArticleBACK Visit the Daily Alert Archive