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$9 billion meant for restoration lost in Iraq

Published time: July 28, 2010 06:07
Edited time: July 28, 2010 20:57

Tags

Big deal, Iraq, Military, Scandal, UN

The Pentagon has lost track of almost $9 billion, which was meant to be spent on reconstructing Iraq. That is 95 per cent of the money given to the Development Fund.

The American military was given the money, raised from the sale of Iraqi gas and oil, by the UN after the invasion in 2003.

A US audit found poor control over where the assets were spent in a country still suffering a lack of electricity and other basic services.

Former CIA analyst Roy McGovern says the lack of oversight needs further investigation.

“There were doubtless people who were supposed to be supervising, overseeing these funds,” McGovern said. “The fact that… they have sort of disappeared and they were a liable to have been purloined – that’s no explanation, we have to find out who purloined them and what happened to those funds. It almost reminds me of the search of weapons of mass destruction in Iraq.”

Comments (4)

Goran 29.12.2010 21:53

If you think that's bad, look at the breakdown of the Oil for Food programme, and you'll see ~30% alone goes to repaying Iraqi debt, with no limit placed. It could have gone to Kuwait to repay the debt Iraq owed to it, or rather it went to financing American bombing of Iraq right up to 2003. 3% even went for UN administration, adding up to about 600 million from 1991-1996 alone. Ever wonder why no one in the UN really called for ending sanctions? When the US refuses to pay its arrears, where else is the UN going to get money to shore up countries not paying their dues? Schemes like these. This 9 billion dollars missing sounds just about par for the course here. 

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Goldenrice 28.07.2010 15:37

I've heard of larger numbers on this issue alone. The war in Iraq is a joke. Most of my fellow citizens pretend that its not even going on.

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PR101 28.07.2010 13:17

I really cannot see why anybody is surprised by this news. Everything about the U.S illegal invasion of Iraq is predicated on lies. Stealing 9B dollars means nothing to the empire of chaos. Many of the grave crimes of the empire of chaos against the people of Iraq will not come to light until the empire of chaos loses its hold on global power. Iraqis are keeping records though.

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