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April 11, 2008

Iraq Corruption losses during five years reached 250 billion dollars

This is from an Iraqi news source. I am not sure if this is the new head of the Commission of Public Integrity, or another central Iraqi committee. The reports describes losses, but no improvements in Iraq systems or prosecutions.
vj

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from an Iraqi news website:
http://www.alsumaria.tv/en/Economics-News-Iraq/3-16421-Iraq-losses-during-five-years-reached-250-billion-dollars.html

Iraq losses during five years reached 250 billion dollars
Friday, April 11, 2008 12:50 GMT
In the fifth anniversary of the former regime fall, head of Integrity (Al Nazaha) committee, Judge Moussa Faraj revealed that Iraq’s losses during these five years have reached 250 billion dollars due to financial and administrative corruption. In statements to Al Hayat Newspaper, Faraj considered that the ministerial council general secretariat is the most dangerous source of corruption after canceling the economic affairs committee which authorities were transferred to the General Secretariat. Faraj clarified that Iraq has lost during this period as well 45 billion dollars from crude oil smuggling and another 45 billion dollars from oil derivatives in addition to burning out 600 million square meters of gas per year without benefiting thereof. He noted that during the last five years, no refinery was built up despite alluring offers from world companies to implement such projects.

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