Posted on 12/10/2004 6:55:52 PM PST by NormsRevenge
UNITED NATIONS (AP) - A U.N. panel critical of how the U.S.-led coalition authority in Iraq spent billions of dollars from the U.N. oil-for-food program and other sales of Iraqi oil will issue its report Monday, an official with the world body said.
The U.N. Security Council set up the Iraqi Development Fund to help the U.S. Coalition Provisional Authority administer Iraq. The CPA administered Iraq from March 20, 2003, invasion to its dissolution June 28, 2004, when it handed the reins to the Iraqi interim government.
The development fund consisted of money from CPA sales of Iraqi oil, millions of dollars remaining from the U.N. Iraqi oil-for-food program and Iraqi assets that were dispersed worldwide.
A panel created by the Security Council - the International Advisory and Monitoring Board for Iraq - has accused the CPA of poorly managing Iraqi money and failing to stem corruption quickly enough.
In all, the CPA said it spent $20 billion from the Iraq Development Fund, and none from an $18.4 billion allocation from Congress.
Of the $20 billion the CPA spent, $11.1 billion came from oil sales.
The auditing panel also said the CPA gave $1.8 billion to Halliburton, a Houston-based oil services conglomerate, in no-bid contracts. It also said the ruling coalition authority was unable to track the money coming in or going out.
The U.N. official, who spoke on condition of anonymity, said the U.N. auditing panel will issue a report Monday.
The oil-for-food program, instituted to help Iraqis cope with sanctions, began in December 1996 and ended in November.
In the program's seven years, Iraq exported $65 billion of oil and some $46 billion of that revenue went to the oil-for-food program. Saddam Hussein's government determined which goods it would buy, who would provide them and who could buy Iraqi oil.
They sure didn't have a problem whipping this "audit" out quick.
What incredible gall.
ping
Doink!
Baghdad Bob must work for the UN now.
Oh, THIS is rich.
ROTFL.. talk about Bizarro world.
First it was literally, officially, "Anti-corruption day" at the UN on Tuesday... and now the UN is bitching about how the US screwed up with the Oil for Food money?
Its exactly the same the thing Dems do when they critisize BUSH for the BS they pull (being 'divisive', etc)
Did y'all notice the author's name....??? I must have him confused with some House member.....Nadler?
Yup.. the ConGre$$blimp spells it Gerrold , not sure if they are related.
snicker
C-Span covering oil-for-food scam - right now - live...
The best defense is a good offense.... Bet the MSM is right in there pointing fingers at the US instead of the UNs thieves...
I want the full audit on how the UN and cronies stole (not spent) billions.
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