Iraq oil-for-food audit to be released ( Mon.12/13/04)

[maddezmom]

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.

more: http://www.nola.com/newsflash/iraq/index.ssf?/base/national-35/1102728541277340.xml&storylist=iraq

[daleo]

1. This will be interesting

Although it will probably get the silent treatment on CNN et al.