Billions of Revenue from Iraq Oil 'Missing'
A Christian charity has accused the coalition authority in Iraq of failing to account for up to $20bn (nearly £11bn) of oil revenues which should have been spent on relief and reconstruction projects. At the same time, the Liberal Democrats are demanding an investigation into the way the US-led administration in Baghdad has handled Iraq's oil revenues. The coalition is obliged to pay all oil revenues into the Development Fund for Iraq, but according to Liberal Democrat figures, the fund could be short by as much as $3.7bn. [more]