International Advisory and Monitoring Board
Encyclopedia
The International Advisory and Monitoring Board was appointed to oversee the Coalition Provisional Authority
's disbursements from the humanitarian Development Fund for Iraq
. When the CPA was authorized to manage the DFI by United Nations
resolution
1483.
the CPA was obliged to cooperate with the oversight of the IAMB. The IAMB was composed of senior representatives from the United Nations, the Arab Fund for Social and Economic Development, the International Monetary Fund
, and the World Bank
.
The IAMB had trouble getting co-operation from the Administrator of Iraq, Paul Bremer, and from the CPA. In their final press release before the CPA's authority expired the IAMB wrote:
Coalition Provisional Authority
The Coalition Provisional Authority was established as a transitional government following the invasion of Iraq by the United States and its allies, members of the Multi-National Force – Iraq which was formed to oust the government of Saddam Hussein in 2003...
's disbursements from the humanitarian Development Fund for Iraq
Development Fund for Iraq
In May 2003, following the invasion of Iraq in March of that year, the Central Bank of Iraq-Development Fund for Iraq account was created at the U.S. Federal Reserve Bank of New York at the request of the Coalition Provisional Authority Administrator...
. When the CPA was authorized to manage the DFI by United Nations
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...
resolution
United Nations resolution
A United Nations resolution is a formal text adopted by a United Nations body. Although any UN body can issue resolutions, in practice most resolutions are issued by the Security Council or the General Assembly.-Legal status:...
1483.
the CPA was obliged to cooperate with the oversight of the IAMB. The IAMB was composed of senior representatives from the United Nations, the Arab Fund for Social and Economic Development, the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
, and the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
.
The IAMB had trouble getting co-operation from the Administrator of Iraq, Paul Bremer, and from the CPA. In their final press release before the CPA's authority expired the IAMB wrote:
- "The IAMB regrets, despite its repeated requests, the delay in receiving reports on audits undertaken by various agencies on sole-sourced contracts funded by the DFI. In the light of these delays the IAMB decided to commission a special audit to determine the extent of sole-sourced contracts. The IAMB was also informed by the CPA that contrary to earlier representations the award of metering contracts have been delayed and continues to urge the expeditious resolution of this critical issue. Finally, the IAMB noted the delay in completing the audits on the State Oil Marketing Organization (SOMO) and requested the CPA to press for prompt finalization of these."
See also
- Coalition Provisional AuthorityCoalition Provisional AuthorityThe Coalition Provisional Authority was established as a transitional government following the invasion of Iraq by the United States and its allies, members of the Multi-National Force – Iraq which was formed to oust the government of Saddam Hussein in 2003...
- Coalition Provisional Authority Program Review BoardCoalition Provisional Authority Program Review BoardThe Coalition Provisional Authority Program Review Board was composed of the senior personnel of the Coalition Provisional Authority, charged with the responsibility to review and make recommendations about the awarding of contracts to the administrator of the authority, Paul Bremer.The board...
- Development Fund for IraqDevelopment Fund for IraqIn May 2003, following the invasion of Iraq in March of that year, the Central Bank of Iraq-Development Fund for Iraq account was created at the U.S. Federal Reserve Bank of New York at the request of the Coalition Provisional Authority Administrator...
- KPMG audit of the Development Fund for Iraq
External links
- The IAMB website.
- U.N. looking into Iraq's handling of goods contracts ReutersReutersReuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
, June 22, 2005 - So, Mr Bremer, where did all the money go?, The GuardianThe GuardianThe Guardian, formerly known as The Manchester Guardian , is a British national daily newspaper in the Berliner format...
, July 7, 2005 - U.S. should repay millions to Iraq, audit board says: U.N. group says it owes nation for contracting work assigned to KBR, Houston ChronicleHouston ChronicleThe Houston Chronicle is the largest daily newspaper in Texas, USA, headquartered in the Houston Chronicle Building in Downtown Houston. , it is the ninth-largest newspaper by circulation in the United States...
reprint of New York Times, November 5, 2005