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View Full Version : assist Gov't in proper use of "development" funds in transparent & equitable manner



Hue Mi
10-04-2014, 07:02 AM
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2014-10-01 10: 52

Researcher: you must assist the Government in the proper use of funds "development" in a transparent and equitable manner (http://almasalah.com/ar/news/39068/%D8%A8%D8%A7%D8%AD%D8%AB%D8%A9-%D9%8A%D8%AC%D8%A8-%D9%85%D8%B3%D8%A7%D8%B9%D8%AF%D8%A9-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D9%81%D9%8A-%D8%AD%D8%B3%D9%86-%D8%A7%D8%B3%D8%AA)

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Baghdad/Obelisk said the writer specializing in Economic Affairs, based in Beirut, an intelligence Savior Khalidi, the Iraqi Development Fund, responsible spending and collect resources. In this regard a series of questions, and she hopes to reach Iraqi media and presented publicly to the Government and the House of representatives.

She said in the report that followed "the Obelisk", the Security Council adopted, on 22 May 2003, following the occupation of Iraq after a short war, began in March of the same year, resolution of 1483 which, pursuant to section VII of the United Nations Act, establishing the Iraqi Development Fund (The Development Fund for Iraq), that Fund is acting under the direction of the coalition that occupied Iraq and in consultation with the Iraqi Interim Administration to achieve the goals set by paragraph 14 of the resolution, Provides that the Fund is acting with transparency to satisfy the humanitarian needs of the Iraqi people and the economic reconstruction and repair of infrastructure, and continue the disarmament of Iraq and to meet the costs of the civilian administration, and for any other purposes for the benefit of the Iraqi people."

The new Act repealed the UN oil-for-food programme ", adopted by the United Nations earlier called for the conversion of all remaining funds to a new development fund. All the proceeds from exports of crude oil and oil products and gas in this fund that are internationally recognized Iraqi Government, the deposit of 5 percent of the proceeds into the compensation fund established under resolution 687 (1991) and subsequent relevant resolutions,.

She added: the Fund resources are managed and expenses by the Coalition Provisional Authority in consultation with the Iraqi administration and the Ministry of finance and the Central Bank of Iraq. At the request of the coalition created the «Federal Reserve Board» in New York an account in the name of the Iraqi Development Fund for the account of the Central Bank of Iraq. Are part of the Fund to last for the most important insurance expenses needed by the country for the benefit of the Iraqi people.

And to help the Iraqi Government to ensure the proper use of funds in a transparent and equitable manner through the Iraqi budget to meet all its obligations, in accordance with the objectives set by the Security Council resolution 1483, the last "text on the establishment of an Advisory Council and an international regulatory & International Advisory Monitoring Board is made up of qualified representatives of the Secretary-General of the United Nations, the President of the International Monetary Fund and Arab Fund for economic and social development, and President of the World Bank and the appropriate representative of the Government of Iraq."

The Council shall, after consultation with the Iraqi Government set a maximum of five observers from the list of independent and qualified candidates who are nominated by the Iraqi Government. At each Board meeting, each Member can be accompanied by a replacement is appointed in the same manner as the original members are appointed and two advisers as an upper limit for each Member.

As provided for in articles 12 and 20 of resolution 1483 on Iraq's Government to appoint external auditors subject to the approval of the Board and the selection method and work tasks and scope of Auditors and style». And the functions of the external auditors to ensure that the funds spent by the Fund was legally licensed and received by the related parties.

The Board reviews reports by external auditors and decides the sufficiency and completeness checking and it is by international standards. Watch as financial reporting and internal control systems established by the Government of Iraq to topics that are the subject of external auditing, and advise them about the validity of these regulations.

As the Council may, when necessary, under best international auditing practices, application of external auditors or the independent accountants, to audit covering all aspects of the Council's terms of reference and conformity and the objectives of resolution 1483 and, after consultation with the Iraqi Government, paragraphs tasks of such Auditors and the scope of their powers and the method to be followed in the audit in accordance with international standards.

The Council must publish to the public all the reports of the Auditors and comments. It also publishes the minutes of its meetings and reports within 30 days after the end of the meeting.

After this review highlights important questions must be raised, first, how much of the Iraqi people or the Iraqi Parliament members aware of resolution 1483 and subsequent resolutions, and knows that all the resources of the State and all expenses not already under the control of the Iraqi Government but is in the account maintained by the US Federal Reserve Board in New York for the benefit of the Iraqi Government?

Secondly, if all the resources of the export of petroleum and petroleum products, gas, go to the Fund, how is the sale of oil from Iraq in multi informally and do not reach the sale proceeds to fund?

Thirdly, the existence of a Supervisory Council of international and assisted by international Auditors to monitor the expenditure of the Fund, and the fate of each amount enters and exits from it, how it passed dozens of cases of corruption and plundering of public money and mentioned by the Iraqi Government itself, and what was the position of the Council, and what was the fate of looted funds?

Fourthly, if the publication of the minutes of the meetings of the Supervisory Board and reports of international Auditors a prerequisite, it is already this publication? Did the Iraqis briefed members of Parliament on the content of such records and reports?

Fifthly, the Fund has been established pursuant to section VII of the United Nations Act, what became his fate after Iraq from Chapter VII?