$4 Billion of Iraq reconstruction fund has 'vanished'.

A British charity has accused the US-controlled Coalition Provisional Authority (CPA) in Iraq of failing to account for $4bn meant to help rebuild the country.
The charity, Christian Aid, said in a report that the authority had not publicly disclosed its accounts since Saddam Hussein was ousted in April.

The report's authors calculated that the CPA had received at least $5bn in oil revenues and assets seized from Saddam Hussein's government.

However, only $1bn of this could be traced, while the rest had simply vanished into a "financial black hole", said the report.

"For all the talk of freedom and democracy for the Iraqi people before, during and after the war which toppled Saddam Hussein," said the report, "there is no way of knowing how the vast majority of this money has been spent".

news.bbc.co.uk...

Well, I wonder where this has gone. Actually no I don't. Interesting that the accounting practices have to desmonste where everything is spent by the terms of a U.N mandate. I wonder what the chances are of the U.S opening their books for all to see... hmm perhaps zilch?

Kegs its awful that the greed of the american government, has taken this money. They should be made to return it and use it for rebuilding Iraq. US should of just taken Saddam out of power and let the Iraqi people put a new person in power.

I don't understand this article. The Christian Aid charity did not raise or donate this money, it's from the former Iraqi govt. The CPA was merely merely handling revenues generated by oil and assets seized from S.H. They probably didn't take into account the amount of money and wealth he and other Iraqi leaders made off with. This charity organization is just finger pointing if you ask me.

There are many other articles that you may find easier to fathom. Just search Christian Aid in Google news.

The CPA is the US-controlled body that rules Iraq. The $5 billion in question is mostly made up of Iraq oil money and Saddam�s assets that were earmarked for reconstruction. The $5 billion was in the hands of the CPA before the $4 'irregularity'. There is no independent body that knows where the $4 billion has gone and in the terms of the UN resolution covering these funds there should be independent body overseeing the allocation of all funds. No such body has even been set up yet, so if it wasn�t for Christian aid, it wouldn�t have come to light. Which was probably the idea.

Thanks.


...writing a $4 bn check for....who should I make it out to...oh..I know....The Peoples Independent Rebublic of Iraq, Inc....

Yeah, accounting is such a mystic art. Only yogis trained for 300 years know how to count.

When the money is coming into your account, you don't need to write a cheque. If your talking about who the cheque would be made out to, that's the problem. You can't make cheques your balance can no longer cash. If there was any 'cheques' made out, it certainly wasn't
to the Iraqis.

oh yeah u really think it vanished yeah right bush probably oredered to take it back i bet his plans were never to give money to iraq

Get the Iraqi's to pay for the UK and US invasion with their own oil. Brilliant plan.
4Bn ought to cover the cost of the weapons and troops with a wee bit left over for expenses.
US get the reconstruction costs, and they share the oil.
Its all profit.
Oh and they liberate the Iraqi people from a greedy dictator who uses the natural resources to line the pockets of their friends and therefore inadvertantly their own in backhanders.
God bless capitilism.

where could the money have gone to. the money probley never made it there so when you find out let me know