Stockman Scott's Political Debate Porch Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Stockman Scott's Political Debate Porch

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: lurqer who wrote (28805)	9/25/2003 1:36:14 PM
From: lurqer	Read Replies (1) of 89467

I believe a careful parsing of the following will revel who's in charge of what. BAGHDAD, Sept 25 (Reuters) - Iraq's Governing Council said on Thursday that comments by the country's new finance minister announcing sweeping economic liberalisation were correct -- hours after saying they were "not final and not precise". In a fresh sign of confusion and tension between the Governing Council and the U.S.-led administration that appointed it, the body reversed an earlier statement that said Finance Minister Kamel al-Keylani was speaking without authorisation when he announced the reforms. Keylani said at the annual meeting of the International Monetary Fund and World Bank at the weekend that the reforms allowed foreign companies to have 100 percent ownership of Iraqi businesses in all economic sectors except oil -- steps that would end 30 years of state domination of the economy. U.S. officials at the meeting in Dubai said the measures had already become law. "The Governing Council has determined that the finance minister's comments were consistent with the terms of the foreign investment order," the council said in a statement. "The Governing Council and finance minister stand by the terms of the order." Earlier, in an apparent rebuke to Keylani and the U.S.-led administration, the council said only the president of the body was authorised to speak on its behalf and said a special committee would be set up to discuss the reforms. The Governing Council was hand-picked by Washington but strains have emerged on some issues, including how swiftly sovereignty should be handed back to Iraqis. Many Iraqi businessmen have reacted with dismay to the new economic measures, saying they will be badly hit by unrestricted foreign competition. In its statement announcing that the finance minister's comments were correct after all, the Council said it would consider measures to protect Iraqi businesses. "The Governing Council stands firmly behind Iraqi business and the Iraqi labour force," it said. "The Governing Council is actively considering additional measures to support and empower Iraqi businesses and workers." reuters.com JMO lurqer

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next