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BatmaninIraq
04-03-2015, 09:00 AM
Iraq has lost more than $ 200 billion

April 2, 2015

Iraq has lost more than $ 200 billion Independent

A report issued by the International Center for Development Studies and position the British capital London, that Iraq has lost more than $ 165 billion from the Development Fund for Iraq in just six years. The report pointed out that the Development Fund for Iraq, which was established in 2003 to deposit the sales of Iraqi petroleum products based on resolution 1483 and reached its assets to $ 165 billion in 2009, but these revenues were prone to corruption where the disappeared $ 17 billion of them in 2003,

while the announced the disappearance of another $ 40 billion in 2010. The report pointed out that the cases of mismanagement and financial and administrative corruption has made these large balances shrink to reach in 2012 to $ 18 billion only. In 2013, Iraq Development Fund balances amounted to $ 7 billion, while the Iraqi government has failed to justify the disappearance of $ 11 billion of those stocks. And indicates the International Center for Development Studies report that there is no day balances in the Development Fund for Iraq, while the Iraqi Central Bank, which arrived in 2013 to $ 76.3 billion in reserves is the other has dropped to nearly $ 68 billion in the past year 2014. This seems is surprising, especially given that the Central Bank of Iraq insists on not compromising with the money to maintain the value of the Iraqi dinar stable private and steady against the dollar. Thus Iraq have lost most of his money from the $ 203 billion within a few years, while the budgets of Iraq since the year 2003 to the year 2015 exceeded one trillion dollars.