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  • Monday, March 20, 2006

    Why was the US trusted with $23 billion?

    I wouldn't trust that mob in charge with £1, never mind billions, this report, from today's Guardian wonders what has happened to the $23 billion entrusted to the US colonial authority in Iraq:

    At the start of the Iraq war, around $23bn-worth of Iraqi money was placed in the trusteeship of the US-led coalition by the UN. The money, known as the Development Fund for Iraq and consisting of the proceeds of oil sales, frozen Iraqi bank accounts and seized Iraqi assets, was to be used in a "transparent manner", specified the UN, for "purposes benefiting the people of Iraq".

    For the past few months we have been working on a Guardian Films investigation into what happened to that money. What we discovered was that a great deal of it has been wasted, stolen or frittered away. For the coalition, it has been a catastrophe of its own making. For the Iraqi people, it has been a tragedy. But it is also a financial and political scandal that runs right to the heart of the nightmare that is engulfing Iraq today.

    And the UN should be ashamed of itself for allowing America to control Iraq's money, given the current bunch of criminals in charge over there.

    See all recent "A Logical Voice" posts

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