Enormous Corruption in Iraqi Treasury
Due to the prolonged and continuous corruption in Iraq, at least USD 450 billion are missing from the country’s treasury.
“At least USD 450 billion have went missing from the Iraqi Treasury since 2003 due to the ongoing corruption within the governmental offices,” reads Iraqi Finance Committee’s statement.
Iraq is the 4th most corrupt nation out of 175 countries according to the Corruption Perceptions Index reported by Transparency International in 2016.
Since the collapse of the former Iraqi Baath regime in 2003, the state has been ruled by the Shi’ite Arab factions which has resulted in enormous losses from the country’s treasury.