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Monday, June 28

Billions of Iraqi Funds Missing

Billions of Iraqi Funds Missing: "LONDON (AP) - Billions of dollars belonging to Iraq is not accounted for by the Coalition Provisional Authority, which was given responsibility by the United Nations for the country's finances, British lawmakers and aid activists said Monday.

There are glaring gaps in the handling of $20 billion generated by Iraq's oil and other sources since the U.S.-led war to oust Saddam Hussein ended last year, according to reports from the Liberal Democrats, Britain's third-largest political party, and Christian Aid.

The Christian Aid report also said the majority of Iraq's reconstruction projects have been awarded to U.S. companies, which charge up to 10 times more than Iraqi firms.

There was no immediate reaction from coalition officials to the reports. "

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