Al-Rai al-Am: Arab fund to monitor coalition forces spending in Iraq

The Kuwaiti daily al-Rai al-Am yesterday quoted diplomatic sources that the draft resolution proposed by the US to the UN Security Council on Friday gives authorities to the Arab Fund for Economic Development which takes Kuwait as a headquarters to monitor the spending of the coalition forces in Iraq, including oil sales.

The Arab Fund is headed by the former Kuwaiti minister of finance Abdul Latif al-Hamad.

According to the draft resolution, monitoring spending of the coalition forces in Iraq will be supervised by four sides in addition to the Arab Fund, The World Bank, the International Monetary Fund under the supervision of the UN.