Iraq to try capitalism

"Aiming to reverse decades of economic decay under Saddam Hussein, Iraq's leadership council announced sweeping free-market reforms Sunday that would permit foreign investment and impose income taxes -- but keep oil under government control."

"...The reforms pave the way for a sell-off of the state-owned companies that dominated Iraq's economy under Saddam -- if buyers can be found. The changes would allow 100 percent foreign ownership of Iraqi firms, except those in the oil sector."

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