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U.S. Funds for Iraq Are Largely Unspent

Date: July 4, 2004
Author: Rajiv Chandrasekaran
QUOTE: The U.S. government has spent 2 percent of an $18.4 billion aid package that Congress approved in October last year after the Bush administration called for a quick infusion of cash into Iraq to finance reconstruction, according to figures released Friday by the White House.

ABSTRACT: Security concerns and infighting between the Pentagon, the State Department and the White House have been blamed for the lack of spending from the U.S. aid package approved for Iraq by Congress. Iraq's own fund of $20 billion, which was raised through oil sales, has almost been completely allocated. While officials confirmed that spending from the Iraq fund was easier due to the application of less stringent rules, some members of Congress are concerned over the bureaucracy causing the slow rate of spending from the US approved fund.

--- O. Overman

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