As for Iraq's economy, at liberation it was flat on its back: the World Bank estimated that in 2003 the economy contracted by 41 percent. Now Iraq benefits from an independent central bank, and a new currency whose stability is a remarkable indicator of confidence. The economy is open to foreign investment and commercial laws have been modernized. The International Monetary Fund reports that per-capita income has doubled in the last two years and predicts that Iraq's economy will grow 17 percent this year. No wonder registration of new businesses has jumped 67 percent in the last six months.
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