US unable to account for $100m Iraq aid

international | anti-capitalism | other press Thursday May 05, 2005 21:19 by paul sherlock p_sherlock at yahoo dot com

05 May 2005 08:40

The Americans have lost 100 million dollars of Iraqis money.
http://www.rte.ie/news/2005/0505/iraq1.html

Investigators say US authorities in Iraq are unable to account properly for nearly $100m that was meant to be spent rebuilding the country.

A report by the Inspector General for Iraq reconstruction said it also found indications of fraud.

Two audits found flaws in how US government and military officials ran contracts paid for by the Development Fund for Iraq.

The development fund is made up of proceeds from Iraqi oil sales, frozen assets from foreign governments and surplus from the UN Oil for Food programme.

It was entrusted to the United States after the 2003 invasion.