[QODLink]
Inside Story
Iraq's missing billions
The US defence department is unable to account for billions meant for reconstruction.
Last Modified: 29 Jul 2010 10:38 GMT

Billions of dollars meant for reconstructing Iraq have gone missing with fingers pointing out to the US Department of Defence.

According to a newly released audit by the Special Inspector General for Iraq Reconstruction, the Pentagon was entrusted with $9.1bn after the fall of Baghdad - money that came from the sale of Iraqi oil and gas.

Out of this, nearly 95 per cent, around $8.7bn, has not been properly accounted for.

Subsequently, most of it has been at least partially tracked. However, the military failed to produce any records whatsoever for $2.6bn.

In addition, the US military continues to hold over $34mn, which it was supposed to return to the Iraqi government in 2007.

The Pentagon has blamed poor record-keeping and lax oversight. They have pledged to undergo what they call a process of archival accounting to track missing funds.

Iraqi officials say they know nothing about the missing billions.
 
So, where has the money gone? And with no agreement on forming a new government in Iraq who is going to take action?

Inside Story, with presenter Mike Hanna, discusses with Mundher Adhami, an analyst on Iraqi affairs, Jeremy Carver, a board member of Tranparency International, and Scott Lucas, a professor of American Studies at the University of Birmingham and editor of Enduring America.com.

This episode of Inside Story aired from Wednesday, July 28, 2010. 

Source:
Al Jazeera
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
As Western stars re-release 1980s charity hit, many Africans say it's a demeaning relic that can do more harm than good.
At least 25 tax collectors have been killed since 2012 in Mogadishu, a city awash in weapons and abject poverty.
Tokyo government claims its homeless population has hit a record low, but analysts - and the homeless - beg to differ.
3D printers can cheaply construct homes and could soon be deployed to help victims of catastrophe rebuild their lives.
Featured
Pro-Russia leaders' election in Ukraine's east shows bloody conflict is far from a peaceful resolution.
Critics challenge Canberra's move to refuse visas for West Africans in Ebola-besieged countries.
A key issue for Hispanics is the estimated 11.3 million immigrants in the US without papers who face deportation.
In 1970, only two mosques existed in the country, but now more than 200 offer sanctuary to Japan's Muslims.
Hundreds of the country's reporters eke out a living by finding news - then burying it for a price.