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.

 

Yemen retakes biggest airbase from rebels

Britain extends air strikes in Iraq by a year

President of Iraq Kurdistan vows to avenge Yazidi minority

US agrees to ‘expedite’ arms sales to Gulf countries

Saudi king cuts short French Riviera holiday

Two Turkish soldiers killed in new PKK attack

US may take 'additional steps' to defend allied fighters in Syria

Israel ex-security chiefs to Netanyahu: Accept Iran deal as ‘fait accompli’

Turkey will do 'whatever necessary' in fight against militants

PKK claims deadly suicide bombing against troops in eastern Turkey

Sudan rebels offered guarantees to attend talks

Pro-Hadi forces target rebel-held base as coalition forces enter Aden

Israel's president threatened over 'Jewish Terrorism' comments

French beach returns to public after departure of Saudi King

Syria army plane crashes in rebel-held town of Ariha

Iran bans newspaper owned by nuclear deal critic

More Yemen refugees look for shelter in Djibouti

Erdogan: Putin may give up on Assad

Yemen rebel leader says political settlement still possible

Egypt leader amends electoral law

Kerry in Qatar for talks on Iran nuclear deal

UAE prosecutor refers 41 people to trial on terrorism charges

Kerry to Middle East allies: Iran deal will make region safer

Egypt court again postpones verdict in retrial of Jazeera reporters

Al-Nusra Front releases video to show ‘capture’ of US-trained rebels

Israel faces mounting pressure after baby killing in arson attack

'PKK suicide attack' kills two soldiers in eastern Turkey

Egypt court postpones verdict on brother of Ayman al-Zawahiri

Immigration surpasses economy as major concern in Europe

Plane crash kills family members of Bin Laden

Iraq protesters vent anger over poor services

ISIS flexes muscles in eastern Libya

Syria army pushes back rebels near Latakia province

Arbil urges PKK to move out of Iraq Kurdistan

Yemen government returns to Aden with eyes set on Sanaa

Erdogan calls for early elections if no coalition

Palestinian baby killed in arson attack by Jewish settlers

Kurds in Diyarbakir fear return to war

State of emergency in Tunisia extended

Jerusalem Gay Pride attack suspect lashes out in court

'Kurdish Obama' faces his biggest test

Yemen blockade 'killing' as many civilians as war

EU urges Israel to show 'zero tolerance for settler violence'

Cash-strapped Tunisia's Syphax airline grounds flights

Pentagon denies US-trained rebels captured in Syria