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.

 

Air strikes kill 150 militants fleeing Fallujah

UN envoy seeks Syria peace talks’ resumption in July

41 killed in Istanbul airport bomb, gun attacks

EU agrees to opens new chapter with Turkey on accession talks

Egypt becoming departure country for migrants to Europe

Iran sacks heads of four state banks over high pay

Egyptian Coptic priest shot dead in El-Arish

Detained RSF Turkey representative released

Lebanese army says ISIS attacks foiled, 5 arrested

UN extends Darfur mission despite Sudan opposition

Turkey detains 13 over airport attack

Palestinian killed by Israeli troops after deadly attack

Tunisian killed in Istanbul attack seeking to repatriate IS-linked son

Turkish forces kill 2 suspected IS jihadists at Syria border

Egypt president urges religious reforms to counter extremists

First aid convoy since 2012 enters two besieged Syria towns

Race to succeed Cameron begins after stunning Brexit vote

Yemen peace talks to take two-week break

Iraq secures $2.7 billion US military loan

ISIS pushes back Syria rebel offensive on Iraq route

Israel cabinet approves Turkey reconciliation deal

Turkey airport attack slams limping tourism industry

Putin lifts Turkey travel restrictions, orders trade 'normalised'

Fears for stranded Syrian refugees as Jordan blocks access

Bahrain activist back in jail despite worsening health

Witnesses recount Istanbul attack

Car bomb kills 10 in Kurdish-held Syria town

Ban to Israeli PM: Gaza blockade ‘collective punishment’

Alstom-led consortium awarded $2.88 billion Dubai metro extension

Democratic hopes fade away in Egypt

US-backed Syria rebels advance on key IS link to Iraq

Israel revokes controversial 'Hannibal Directive'

Detained Bahraini activist hospitalised

UN chief urges Netanyahu to make tough choices

Saudi Aramco, SABIC in joint petrochemicals study

Yemen clashes, air strikes kill 37 civilians

Egypt's anti-graft tsar becomes public enemy number one

Iraqis shun return to 'cursed' Fallujah

Lebanese army raids refugee camps after bombings

Ankara goes back on compensation offer for downed Russia jet

Iraq court deals blow to PM's cabinet reform efforts

UAE jails Emirati woman for spying for Hezbollah

Eight hurt in Turkey car bombing blamed on PKK

Iran hopes Saudi embassy attack trial will restore confidence

France charges Assad's uncle with graft