Posted on 07/06/2004 3:48:31 PM PDT by GLH3IL
The US-controlled coalition in Baghdad is handing over power to an Iraqi government without having properly accounted for what it has done with some $20 billion of Iraq's own money, says a new report published by Christian Aid.
Download full report (166kb PDF) More information on downloading PDFs
An audit, reportedly critical, of the coalitions handling of Iraqi revenues is not going to be delivered until mid-July after the coalition has ceased to exist.
Christian Aid believes this situation is in flagrant breach of the UN Security Council resolution that gave control of Iraqs oil revenues and other Iraqi funds to the Coalition Provisional Authority (CPA).
For the entire year that the CPA has been in power in Iraq, it has been impossible to tell with any accuracy what the CPA has been doing with Iraqs money, said Helen Collinson, head of policy at Christian Aid.
Resolution 1483 of May 2003 said that Iraqs oil revenues should be paid into the Development Fund for Iraq (DFI), that this money should be spent in the interests of the Iraqi people, and be independently audited. But it took until April 2004 to appoint an auditor leaving only a matter of weeks to go through the books.
Early reports of the audit indicate strong criticisms of the CPAs handling of Iraqs money. But the CPA is not going to be around to be held accountable.
In the run-up to the handover, nearly $2 billion of Iraqs money has been hastily allocated. The new Iraqi government will be committed to these spending decisions.
Iraqs oil represents huge potential wealth. With half of the population still unemployed, the Iraqi people need to be able to see that the oil revenues are being spent to alleviate poverty and to improve their lives.
(Excerpt) Read more at christianaid.org.uk ...
They are not starving.
Perhaps you could better determine who actually wrote this comment and then respond to that person
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.