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Middle EastJune 8 2003

Gulf banks adopt wait and see approach to Iraq

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Gulf banks are in no rush to do business in post-war Iraq, despite the potential spoils, says Indira Chand.

The fog of war may have lifted from Iraq but the country is now shrouded in the dust of political instability and uncertainty. One thing is certain, though: Iraq needs to be rebuilt and the cost of this reconstruction will be enormous, spreading over many years and encompassing every aspect of Iraqi life, from education to agriculture, from electricity and water to oil production.

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