Jubilee Iraq updates us with new info on UNCC overcharging and a lack of compensation for Iraq victims.

Iraq says Volker investigation is uncovering “gross mismanagement” in UNCC

In January UN internal audits revealed that the UNCC may have overstated reparation awards by $5bn. Today Iraq’s Deputy UN ambassador Fesial al-Istrabadi told the AP that the the Volker Investigation into Oil-For-Food believes that some of the allegations were legitimate, particularly in how the commission handled currency exchange rates with the Iraqi dinar. “There appear to have been some irregularities that are at the very least gross mismanagement at the level of currency exchange.” The executive director of the investigation, Reid Morden, refused to confirm al-Istrabadi’s claim but said investigators had long wanted to scrutinize the U.N. Compensation Commission: “It’s a program which so far has submitted itself to very little in the way of transparency.”