BusinessCompany NewsIraqi coalition finances come under fire

Iraqi coalition finances come under fire

Christian Aid has accused the US-led Coalition Provisional Authority in Baghdad of improperly accounting for £2.4bn of Iraqi assets, adding its voice to a barrage of calls for a separate fund administered by the World Bank and the United Nations.

Link: Iraq oil exports resume without auditor

The CPA has already been attacked on its lack of transparency with various US politicians and non-governmental organisations criticising the coalition for not disclosing how much it has spent of Iraqi money since it took over.

Christian Aid said that so far the CPA has provided details for only $1bn of the money collected from Iraqi oil exports and put into a development fund for Iraq, according to the Financial Times.

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