NEW ECONOMIC GURU

A Greenwich resident will serve as director of private sector development in Iraq, in an appointment by President Bush...

He will be in charge of 200 state-owned enterprises, including mining, chemical, cement and tobacco companies. Oil production and two state-owned banks are the only industries that will not be under his supervision, he said.

Second, over the next six months, he will draft a privatization plan for the state-owned businesses.

Finally, he will manage all trade and foreign investments into Iraq.

''Basically, I need to help get Iraq's economy going in the right direction,'' Foley said.