The Blogiston Post

Politics, money, and war.

Wednesday, October 22

where did it go?

As representatives of nations gather for the Donor Conference in Madrid, Christian Aid has requested an audit of profits from oil revenue that came into Iraq under the Coalition Provisional Authority. By UN mandate passed in May, an oversight committee, the International Advisory and Monitoring Board, is supposed to be set up to monitor oil revenue. Members of the committee have not yet been named leaving one with the impression that there is no oversight committee at this time. Christian Aid estimates that $4 billion dollars in oil revenue is currently unaccounted for.
A prominent British aid agency accused Iraq's U.S. and British administrators on Thursday of failing to account for $4 to 5 billion in oil revenue and other money that is meant to go toward rebuilding the country.

As officials from around the world gathered in Madrid to hear U.S. requests for aid for Iraq, Christian Aid said the U.S.-led Coalition Provisional Authority (CPA) had not publicly detailed cash flows since ousting Saddam Hussein in April.
See Charity urges clarity on Iraq reconstruction fund in Forbes.


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