From the Financial Times (via Drudge): “Iraq’s recently appointed finance minister on Sunday announced a radical liberalisation of the economy, but his plans surprised US allies and were attacked by Iraqi business representatives. The laws abolished almost all curbs on foreign direct investment except in natural resources and allowed foreign domination of the banking sector. Wadi Surab, a member of the Iraqi Businessman’s Union in Baghdad, told the BBC Arabic service the proposed reforms would ‘destroy the role of the Iraqi industrialist’, as Iraqi business groups could not compete in privatisation tenders.”
