In a way, the U.S. government has lifted up the seat cushion it knows as Iraq and dug out the $6.6 billion in pocket change it believed it had misplaced during the early days of the conflict. A new report says the money was never lost, but instead was placed under the control of the Iraqi government, as intended.
According to CNN, the Special Inspector General for Iraq Reconstruction reports the funds were part of a $10 billion transfer of U.S. currency to Iraq, part of which was for relief and reconstruction in an account called the Development Fund for Iraq. The remaining money was not properly accounted for when Iraq’s Coalitional Provisional Authority dissolved in 2004 as the country’s new government was established.
From the report:
“SIGIR was able to account for the unexpended DFI funds remaining in DFI accounts when the CPA (Coalitional Provisional Authority) dissolved in June 2004.”