Iraq must move beyond laudatory statements and put in place strategies for the future.   Iraqi Prime Minister's Media Office via Reuters
Iraq must move beyond laudatory statements and put in place strategies for the future. Iraqi Prime Minister's Media Office via Reuters

Iraq needs a long-term strategy as much as it needs short-term wins



It was a moment Iraqis had waited for since the terrible events of the summer of 2014. The declaration of the defeat of ISIL on Iraqi soil. Haider Al Abadi, Iraq's prime minister, declared victory on Sunday, with a national holiday on Monday to celebrate this victory. However, the term "celebrate" is difficult for those who lost loved ones fighting ISIL, for others who lost loved ones at the hands of ISIL and for millions either displaced from their homes or living in harsh conditions in liberated, but destroyed, cities.

And while the war against ISIL was an important one, military victory was always just a matter of time with a retrained Iraqi army, local fighters and a coalition of 62 countries. However, what is less certain is winning the peace. For the last few months, Iraqis have been waiting for clarity of vision on how this peace will be won, and how their country will move from being a state in crisis, into a stable nation state for all its citizens, capable of growing and prospering.

This needs short-term wins, medium-term plans and a long-term strategy. With his declaration of victory, Mr Al Abadi should have announced a 100-day plan for liberated areas. It should have encompassed short-term wins to start rebuilding trust in the state. Such a plan could include all that the government and international NGOs are doing in three key areas: education, health and housing. Iraqis from areas affected by ISIL and especially in Nineweh, Anbar and Salahildin, are in need of getting their children vaccinated, educated and in safe housing. Older Iraqis needs health screening and medications. The Iraqi army is working diligently to clear landmines and booby-trapped houses, some schools have come back to life and very basic health services are being provided by international NGOs. However, the need is great, and the resources are too scarce.

In the medium-term, Iraq needs a clear plan on how its governance and security architecture will be set. Many of the agreements of 2003 were flawed; events like the rise of ISIL, the financial crisis and the KRG referendum deem some of them redundant. However, it seems unlikely such an overhaul will happen before next spring's elections. In the meantime, sensitive issues like returned those who are displaced or how the budget is distributed, should not become political footballs.

A long-term vision that organises the relationships between citizen and state in Iraq is missing. There is a real danger of those in charge in Iraq don't realise the potential of the state as both guarantor of security and responsible for upholding the law. That is what warlords and militia leaders are banking on, in order to fill a renewed vacuum.

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Halfway across the world, policy makers in Washington DC are putting finishing touches on a new American strategy in Iraq. One message is clear. American officials say the US has learned the lessons of 2003 and 2011 – there will not be a declaration of victory and a withdrawal of troops without truly securing the ground. Furthermore, political engagement will be maintained to secure a strategic ally. The US has invested in Iraq this time and seen the desperate result of disengaging, and this current administration doesn't plan to repeat that colossal mistake. As US Central Command commander, General Joseph Votel, said, "we have to be persistent, this is not the first time we fight (terrorist groups).. when you take the pressure off them, it is like giving oxygen to a fire".

Back to the Middle East and Iraq's immediate region, it is important to cut off the oxygen fanning the flames of extremism and sectarian divisions. While Iran wants to claim supremacy and Turkey remains primarily concerned about the Kurds' ambitions, another player is beginning to have influence. For the first time in more than a decade, there is the emergence of an Iraq strategy from Baghdad's most important Arab neighbour. Saudi Arabia has followed up its initial political opening up, with limited intelligence sharing, re-opening of land borders and resumption of flights, with suggestions of a shared industrial zone.

Winning the peace in Iraq will require regional cooperation – and will require a resolution of the war in Syria. Both these are factors that are unlikely to be secured soon. Which is why any optimism about Iraq is cautionary and should be limited. Furthermore, Iraq's internal dynamic offers many reasons to be concerned, as politicians talk past each other and rarely see a need for concessions. However, there are two clear deadlines that could force more deliberative steps and improved strategic thinking - the first is the international reconstruction conference slated for February in Kuwait and, second, the parliamentary elections to be held in May. With international support through the Kuwait conference, and internal political coalescing around the elections, the hope is that winning the peace can build on the momentum created by the military victory against ISIL. But for the hope to be realised, strategies must be put in place, beyond laudatory statements.

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In subsequent years, they announced home internet services through your toilet with its "patented GFlush system", made us believe the Moon's surface was made of cheese and unveiled a dating service in which they called founders Sergey Brin and Larry Page "Stanford PhD wannabes ".

But Gmail was all too real, purportedly inspired by one – a single – Google user complaining about the "poor quality of existing email services" and born "millions of M&Ms later".

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Publisher: LucasArts
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MEN

Cricketer of the Year+– Shaheen Afridi+(Pakistan)

T20 Cricketer of the Year+– Mohammad Rizwan+(Pakistan)

ODI Cricketer of the Year+– Babar Azam+(Pakistan)

Test Cricketer of the Year+– Joe Root+(England)

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Cricketer of the Year+– Smriti Mandhana+(India)

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How to play the stock market recovery in 2021?

If you are looking to build your long-term wealth in 2021 and beyond, the stock market is still the best place to do it as equities powered on despite the pandemic.

Investing in individual stocks is not for everyone and most private investors should stick to mutual funds and ETFs, but there are some thrilling opportunities for those who understand the risks.

Peter Garnry, head of equity strategy at Saxo Bank, says the 20 best-performing US and European stocks have delivered an average return year-to-date of 148 per cent, measured in local currency terms.

Online marketplace Etsy was the best performer with a return of 330.6 per cent, followed by communications software company Sinch (315.4 per cent), online supermarket HelloFresh (232.8 per cent) and fuel cells specialist NEL (191.7 per cent).

Mr Garnry says digital companies benefited from the lockdown, while green energy firms flew as efforts to combat climate change were ramped up, helped in part by the European Union’s green deal. 

Electric car company Tesla would be on the list if it had been part of the S&P 500 Index, but it only joined on December 21. “Tesla has become one of the most valuable companies in the world this year as demand for electric vehicles has grown dramatically,” Mr Garnry says.

By contrast, the 20 worst-performing European stocks fell 54 per cent on average, with European banks hit by the economic fallout from the pandemic, while cruise liners and airline stocks suffered due to travel restrictions.

As demand for energy fell, the oil and gas industry had a tough year, too.

Mr Garnry says the biggest story this year was the “absolute crunch” in so-called value stocks, companies that trade at low valuations compared to their earnings and growth potential.

He says they are “heavily tilted towards financials, miners, energy, utilities and industrials, which have all been hit hard by the Covid-19 pandemic”. “The last year saw these cheap stocks become cheaper and expensive stocks have become more expensive.” 

This has triggered excited talk about the “great value rotation” but Mr Garnry remains sceptical. “We need to see a breakout of interest rates combined with higher inflation before we join the crowd.”

Always remember that past performance is not a guarantee of future returns. Last year’s winners often turn out to be this year’s losers, and vice-versa.

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Nickname: Mama Nadia to children, staff and parents

Education: Bachelors degree in English Literature with Social work from UAE University

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The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE. 

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Edinburgh: November 4 (unchanged)

Bahrain: November 15 (from September 15); second daily service from January 1

Kuwait: November 15 (from September 16)

Mumbai: January 1 (from October 27)

Ahmedabad: January 1 (from October 27)

Colombo: January 2 (from January 1)

Muscat: March 1 (from December 1)

Lyon: March 1 (from December 1)

Bologna: March 1 (from December 1)

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