View Full Version : loss of $ 165 billion from the Development Fund for Iraq

04-05-2015, 01:16 PM
Report: loss of $ 165 billion from the Development Fund for Iraq

Experts in economic affairs says that poor management of funds drawn from the Development Fund for Iraq during the past years has led to a lot of money without economic benefit to the country on the ground.

The Global Center for Development Studies in Britain issued a report a few days ago confirming that more than $ 165 billion lost from the Development Fund for Iraq in just six years, the report indicates that there is no balances today in the fund, because of mismanagement and cases of financial and administrative corruption.

It is noted economist contrary goldsmith that the loss of Iraqi money from the Development Fund is due to many reasons, the most important of poor financial planning, and the development of people, non-specialists in positions of sovereignty and economic mission since 2003.

Refers economist lion Muhammad Ali that poor drainage efficiency huge budgets set by Iraq each year, in addition to calculating the price of a barrel of oil at less than the market price, and the sharp decline in oil prices globally, and feed the war against terrorism, led to the emptying Development Fund for Iraq now entirely on oil revenues.

But the Economic Adviser to the Prime Minister the appearance of Mohammed Saleh rule out the possibility of the loss of huge amounts of money out of this financial volume of corruption, pointing out that the issue of the withdrawal of successive governments in Iraq money from the Development Fund for Iraq shall be subject minute before committees of foreign and Iraqi to follow.

04-05-2015, 02:00 PM
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