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Audit: US cannot account for $8.7B in Iraqi funds

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A U.S. audit has found that the Pentagon cannot account for over 95 percent of $9.1 billion in Iraq reconstruction money, spotlighting Iraqi complaints that there is little to show for the massive funds pumped into their cash-strapped, war-ravaged nation.

The $8.7 billion in question was Iraqi money managed by the Pentagon, not part of the $53 billion that Congress has allocated for rebuilding. It’s cash that Iraq, which relies on volatile oil revenues to fuel its spending, can ill afford to lose.

via Audit: US cannot account for $8.7B in Iraqi funds – Yahoo! News.

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Written by admin

July 27, 2010 at 8:58 pm

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