LONDON (AP) - Billions of dollars belonging to Iraq is not accounted for by the Coalition Provisional Authority, which was given responsibility by the United Nations for the country's finances, British lawmakers and aid activists said Monday.
There are glaring gaps in the handling of $20 billion generated by Iraq's oil and other sources since the U.S.-led war to oust Saddam Hussein ended last year, according to reports from the Liberal Democrats, Britain's third-largest political party, and Christian Aid.
The Christian Aid report also said the majority of Iraq's reconstruction projects have been awarded to U.S. companies, which charge up to 10 times more than Iraqi firms.
There was no immediate reaction from coalition officials to the reports.
The United Nations gave the U.S.-led coalition responsibility for the Development Fund for Iraq after the fall of Saddam in May 2003. It stipulated that expenditures must be shown to be in Iraq's best interest and that all revenue should be paid into a simple fund. But Christian Aid and the Liberal Democrats said no audit on the money was carried out until April.
"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 Iraq's money," said Helen Collison from Christian Aid.
The Liberal Democrats' study cited the accounting firm KPMG, which criticized the coalition for not metering oil production and questioned its spending.
"This apparent discrepancy requires full investigation," said Menzies Campbell, the Liberal Democrat spokesman for foreign affairs.
"The cost of reconstruction of Iraq is considerable and those countries who are being asked to contribute will want to know that Iraq's own resources are making a maximum contribution," he added.
"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 Iraq's money,"
Let's have a look at Haliburton, Carlyle and Blackwater's accounts and see what turns up lolololol LEWLS
"Right now we can tell you a report was filed by the family of a 12 year old boy yesterday afternoon alleging Mr. Michael Jackson of criminal activity. A search warrant has been filed and that search is currently taking place. Mr. Jackson has not been charged with any crime. We cannot specifically address the content of the police report as it is confidential information at the present time, however, we can confirm that Mr. Jackson forced the boy to listen to the Howard Stern show and watch the movie Private Parts over and over again."
Maybe they left it in the pocket of their other coat? Or perhaps it wasn't a good idea to trust Uncle Billy to deposit it in Mr. Potter's bank...
When ballots have fairly and constitutionally decided, there can be no successful appeal back to bullets.
—Abraham Lincoln
People pray so that God won't crush them like bugs.
—Dr. Gregory House
Oil an emergency?! It's about time, Brigadier, that the leaders of this planet of yours realised that to remain dependent upon a mineral slime simply doesn't make sense.
—The Doctor "Terror Of The Zygons" (1975)
—or the same bank Ken Lay used to deposit the Enron pension funds in.
When ballots have fairly and constitutionally decided, there can be no successful appeal back to bullets.
—Abraham Lincoln
People pray so that God won't crush them like bugs.
—Dr. Gregory House
Oil an emergency?! It's about time, Brigadier, that the leaders of this planet of yours realised that to remain dependent upon a mineral slime simply doesn't make sense.
—The Doctor "Terror Of The Zygons" (1975)
lolololol LEWLS
