Iraq says petrodollars hold key to peace

BAGHDAD (AFP) — Finance Minister Bayan Jabr Solagh said on Monday that Iraq's booming oil wealth holds the key to peace and urged foreign investors to take part in huge projects planned by his war-ravaged country.

With state revenues quadrupled since the US-led invasion of 2003 and amid soaring world oil prices, "from my point of view, money is key to peace, it is the main key," Solagh said in an interview with AFP.

Iraq's oil revenues for 2008 are set to jump to more than 75 billion dollars, earmarked for running expenditure and development projects.

"It is the first year since 2003 that we have access to that kind of money," said the upbeat finance minister who boasted a vision for Iraq with a more prosperous and secure future.

The army of jobless needing money to feed their families has created a pool of recruits ...