From the Financial Times, 2 June.
The US and other [foreign aid] donors have prescribed privatisation and direct investment. However, even investors willing to risk their lives in Iraq would be ill advised to risk their assets. Investment laws are a patchwork of Saddam-era ordinances, which are expected to be replaced, and US coalition decrees, which are also temporary and may be illegal under international law. But parliament is not expected to pass new investment legislation, particularly in the oil sector, until late next year.
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