First Published: 2011-02-21

 

40 billion USD 'missing' from Iraq accounts

 

Iraq forms investigative committees to track down cash that 'does not appear' in official accounts.

 

Middle East Online

It's only money

BAGHDAD - Around $40 billion are "missing" from a post-Gulf War fund that Iraq maintains to protect the money from foreign claims, its parliamentary speaker said on Monday.

"There is missing money, we do not know where it has gone," Osama al-Nujaifi said at a news conference in Baghdad. "The money is around $40 billion in total."

"It may have been spent somewhere, but it does not appear in our accounts, so parliament will investigate where this money has gone."

Nujaifi did not say when or how the discovery had been made regarding the missing money. He said two investigative committees had been formed to track down the cash.

The Development Fund for Iraq (DFI), which was set up after the 2003 war to handle oil and other revenues, has been protected against claims by a UN resolution that expires on June 30.

On December 15, the UN Security Council ended key international sanctions imposed on Iraq following now-executed dictator Saddam Hussein's 1990 invasion of Kuwait in a major move toward bringing closure on the Saddam era.

Among the decisions taken on that day was the closure of the DFI.

Iraq's August 2, 1990 assault on Kuwait was rapidly met with a concerted international military response that pushed Saddam's forces out of the oil-rich emirate and eventually ended in his ouster by a US-led coalition in 2003.

 

Jordan bows to IS demand

Israel retaliates against Hezbollah attack

Nine killed in luxury Tripoli hotel attack

Obama, Saudi king discuss IS fight, Iran

Can Iraqis trust their government to rebuild their country?

Yemen powerful militia prevents fresh protest in Sanaa

Iran appoints new UN ambassador after US visa refusal

Pentagon confirms US involvement in talks with Yemen Huthis

Hezbollah missiles threaten to spark new war in volatile region

In new website, France warns would-be jihadists: You will die alone

Sheikh Ali Salman rejects charges as trial opens in Bahrain

Protesters try to storm UN headquarters in Gaza

UN peacekeeper killed in southern Lebanon amid border clash

Kobane in ruins after symbolic blow to jihadists

Hezbollah claims attack on Israeli military convoy

Somali PM proposes new cabinet list

Syria opposition groups, Assad representatives meet in Moscow

Yemen’s Huthis free top presidential aide

French FM urges international cooperation against extremism

Clock ticking towards 24-hour IS deadline to kill hostages

Three killed in Tripoli luxury hotel attack

UN harshly criticises Turkey for deterioration of human rights

‘Islamic State’ gives Jordan 24 hours before execution of hostages

Ex-Shebab chief urges others to surrender in first public appearance

Bomb kills and wounds three terrorists in Egypt's Alexandria

Three killed in protest against MINUSMA in Mali

Humanitarian crisis looms for thousands of families in southern Iraq

Rockets fired from Syria explode in Israeli-occupied Golan Heights

Egypt Grand Mufti condemns actions of Muslim Brotherhood

Residents trickle back to Kobane after expulsion of jihadists

Obama comes to Saudi with heavyweight delegation

Cash-strapped UNRWA halts Gaza house repairs

Saudis pledge allegiance to new king on Twitter

Erdogan says Turkey opposed to Syrian Kurdistan

Baghdad flights suspended after ‘arms fire’ hits flydubai jet

'Constructive spirit' at Libya peace talks

US says Syria’s Kobane not fully liberated from IS

Egypt court orders release of Mubarak sons pending retrial

Drone targets Qaeda suspects in crisis-hit Yemen

Saudi Arabia seeks greater American role in Middle East crises

Iraq army announces liberation of Diyala from ‘Islamic State’

Tunisia parliament delays confidence vote on new government

After 4 months of fighting, Kurds expel ‘Islamic State’ from Kobane

Libya warring factions meet in Geneva to resume peace talks

Assad: US idea to train rebels illusionary