I raq's future depends on the country finding its footing. The most important precondition is peace and stability. Free and fair elections, the foundation of a healthy democracy, are also vital. Ultimately, however, Iraqis must believe that they will have a better life. Without a functioning and growing economy -- and hopes of prosperity -- no government will win the support of the Iraqi people, and unrest will continue.
Baghdad faces considerable obstacles in achieving this goal, but the future looks brighter after the Paris Club of creditors decided last weekend to help Iraq write off nearly 80 percent of its debts.
Iraq owes about $125 billion to creditors. Some $42 billion is owed to members of the Paris Club, a group of 19 nations that includes Japan, the United States, Russia and European nations. The remainder is owed to various Arab and Eastern European governments.