Iraq's stock exchange surges

Posted By P.J. Aroon Tuesday, November 4, 2008 - 11:54 AM Share

There's a surge going on in Iraq, but this one doesn't involve troops. The Iraq Stock Exchange (ISX) is not only remaining healthy amid the global financial crisis, but its index has been surging in value. The ISX index has risen 44 percent this year, from 34.59 points at the end of December 2007 to 49.873 today. One reason: The tiny stock exchange is disconnected from the global financial network.

The ISX is also quite low tech. The photo shows Iraqi traders updating share prices on a white board at the ISX in Baghdad on Oct. 30.

EXPLORE:MIDDLE EAST, ECONOMICS, FINANCE, IRAQ
 

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