NewsMine — war-on-terror — iraq — post-2003-war — monetary-cost — Viewing Item

Charity claims billions missing from us iraqi funds Original Source Link: (May no longer be active)    http://www.abc.net.au/news/justin/weekly/newsnat-24oct2003-17.htm http://www.abc.net.au/news/justin/weekly/newsnat-24oct2003-17.htm Charity claims billions missing from US Iraqi funds Four-billion dollars in Iraqi oil revenue and other funds earmarked for the reconstruction of the country have "disappeared into opaque bank accounts" administered by the US Coalition Provisional Authority (CPA). "The missing billions are a combination of pre- and post-war oil revenues now controlled by the CPA, plus seized Iraqi government assets and funds vested overseas," the UK-based Christian Aid said in a statement. "Conservative estimates put the total at $US5 billion, of which less than $US1 billion can be accounted for." Christian Aid's accusation came as an international donors' conference on the reconstruction of Iraq got under way in Madrid. "Before pledging money from their own countries' coffers to boost the reconstruction efforts ... these [donor conference] delegates should first demand, 'what has happened to the missing billions?'" the charity said. Christian Aid said Iraq's oil revenues between now and the end of the year were estimated to total "a further $US4 billion" and warned the amount of money going missing could double by then "if nothing changes in the way this cash is accounted for". It said the "financial black hole" could only "fuel the serious suspicion in Iraq that a disproportionate amount of cash is being creamed off for the benefit of US companies - money that should be spent on alleviating the chronic unemployment and other serious problems faced by Iraqis, including the poorest and most vulnerable". "The fact that no independent body knows where this cash has gone is in direct violation of the UN resolution that released much of it for the rebuilding of Iraq's shattered infrastructure," it added. United Nations secretary-general Kofi Annan opened the two-day donors' conference in Madrid with a call for aid to start flowing immediately even though Iraq was still under US-led occupation. The World Bank and United Nations, two co-sponsors of the event, estimate Iraq's needs at $US36 billion, almost three times the pledges proffered to date in donations and loans. -- AFP

Americans say enough Audit finds 9b dollars unaccounted for in iraq Auditors cant trace 97m earmarked for iraq { May 4 2005 } Bush adds 80 billion to war costs in january 2005 { January 26 2005 } Bush adds another 25b to war funds { August 6 2004 } Bush seeks 25 billion more Bush seeks 70 billion more for iraq Bush seeks 82b more for iraq Bush vows spend whatever necessary { September 7 2003 } Bush will seek 87b more for iraq { September 7 2003 } Byrd nayed voice vote 87b bill { November 4 2003 } Charity claims billions missing from us iraqi funds Costing 1b week Democrats try cut 20b iraq bill Goa rips pentagon atrocious iraq financial management { July 15 2005 } Iraq reconstruction money goes unspent { July 19 2005 } Lacks records for spending a billion { July 30 2004 } No blank check for war funding { May 13 2004 } Pentagon may cut forces in half { September 2 2003 } Pentagon paycuts for troops { August 14 2003 } Public says 87b too much { September 14 2003 } Republicans critical of bush 82b war request { February 17 2005 } Senators hide behind voice vote { November 5 2003 } Spending records on iraq lacking { July 30 2004 } Trillion cost of war War could cost 2 trillion says economist { December 2005 } Files Listed: 26

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