Former Iraqi Finance Minister Rejects $140 Billion Missing Funds Claim

BAGHDAD, Iraq — Former Iraqi Finance Minister Taif Sami has rejected claims by his former ministry undersecretary, Mesut Haidar, that $140 billion in public funds had disappeared, saying the assertions do not reflect reality. Sami said the allegations are not based on any report or official document issued by audit institutions. Sami stated that oil revenues are tightly monitored by the Federal Integrity Commission and the Federal Financial Audit Bureau, and that Iraq's export and marketing processes are subject to internationally recognized auditing systems. He argued that it would not be possible for the sums in question to vanish without leaving a trace in official records. He also cited reforms including a point-of-sale system, customs automation, and electronic collection of taxes and fees, saying these steps had improved collection efficiency and reduced waste and irregularities. Under the second phase of financial reforms, non-oil revenues rose by more than 100% compared with the previous period, and the unified treasury system brought scattered balances under central oversight, according to Sami. Sami added that revenues from the Kurdistan Region have been transferred to the federal treasury in incomplete form and were therefore not included in the calculations cited. He asked the Ministry of Finance and the Federal Financial Audit Bureau to prepare a response to the claims based on official data.