Integrity reveals Iraq's losses due to corruption

Mon, 01 Jan 2018 17:08:36

Integrity

The Committee on Parliamentary Integrity revealed on Monday that Iraq lost more than 350 billion dollars through the smuggling of currency and the auction of the central brick and contracts and false projects, while noting the possibility of investing money held abroad to pay the debts and overcome the economic crisis.

"There is a lot of money coming out of Iraq, some of them areprivatized and held in international banks, which is the real remedy for the financial crisis that the country is going through and enough to repay the debts of the World Bank, which exceeded the 120 billion dollars," said committee member Abdul Karim Abtan.

He added that "Iraq has lost more than 350 billion dollars since 2003 and so far, has been through the smuggling of currency and the auction of the central brick and contracts lag and imaginary projects," pointing out that "the financial imports to Iraq since the fall of the former regime exceeded the $ 1000 billion and spent about 500 Billion for operating budgets and the rest to the imaginary investment budget and the greatest corruption.

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