Billions Wasted in Iraq
Posted on Nov 9, 2006
Stuart Bowen of the Office of the Special Inspector General for Iraq Reconstruction says billions of dollars of Iraq’s national income are lost annually to corruption, with public funds often ending up in the hands of insurgents. Bowen’s oversight office is set to close due to legislation passed by the Republican Congress.
Stuart Bowen told the BBC that Iraq was facing a second insurgency of corruption and mismanagement.
He said Iraqi government corruption could amount to $4 billion a year, over 10% of the national income, with some money going to the insurgency.
Many government workers also lack the skills to manage funds, Mr. Bowen said.
“This money that’s stolen doesn’t merely enrich criminals,” Mr. Bowen said.
“(It) frequently goes out to fund criminal militias or insurgents. That means lost lives for U.S. troops.”