Arabian Business Weekly Update 15th June 2004

  • E-Mail
By  Anil Bhoyrul Published  June 15, 2004

Editorial Leader|~||~||~|

Where has all the money gone?

I have some bad news for the Iraqi finance minister Adel Abdul Mahdi. The brilliant, university educated economist has been sounding upbeat about turning around a nation where unemployment stands at 60%. To his credit, he has already persuaded the World Bank to set up office in Baghdad, bringing with it much needed loans needed to rebuild the country’s non-existent infrastructure. Along with oil revenues, in theory there is light at the end of the tunnel. Mahdi was of course also one of the few prominent Iraqis taken to meet Saddam Hussein, soon after the dictator’s capture last year. After that meeting, Mahdi will have been jubilant to hear that Hussein had left behind around US $1 billion in cash hidden in several houses outside the capital city. The Americans would surely find the cash, and it would all eventually go into rebuilding the country. Now that bad news. Yes, the US did find the cash. But as we report in the next issue of Arabian Business, nearly half of it was since stolen again by greedy US soldiers. This is nothing short of an appalling scandal. The US claims it has recovered the stolen cash, but its own figures (and soldiers) suggest otherwise. Mahdi needs to find out exactly how much cash has been pilfered by US soldiers, where the cash is – and most importantly, when he can have it back. Anything less simply won’t do.||**||

Add a Comment

Your display name This field is mandatory

Your e-mail address This field is mandatory (Your e-mail address won't be published)

Security code