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Michigan State's McPherson helps rebuild Iraq.(Interview)
There are many changes going on in Iraq. Many Americans are involved in helping to rebuild the country.
One who was involved at the start was Michigander Peter McPherson, who took time off from his job as president of Michigan State University to help set up a new currency for the country.
We recently talked with President McPherson about the role he played in helping to rebuild Iraq.
First of all, why did MSU's president leave the state for five months to work as the financial coordinator in the rebuilding effort in Iraq?
As it turns out, McPherson is an expert in banking and money and also in working with foreign countries that need aid. He grew up on a farm near Lowell and after graduating from MSU, he set up credit unions, or money-lending groups, in little villages near Lima, Peru, as a Peace Corps volunteer.
In Iraq, McPherson's job was to create a new kind of money to be used by all the people there.
There were two currencies in the country, McPherson said. One was used in the northern part of Iraq by the Kurdish people, and the other, called the Saddam dinar, was used by the rest of the country. That currency carried a picture of former Iraqi President Saddam Hussein on the bills.
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