Corruption has cost Iraq $150 billion smuggled abroad since 2003, said Iraqi President Bahram Salih. Iraq is experiencing a deep economic crisis compounded by a fall in oil prices, the country's main source of income, and the coronavirus pandemic.
"The total value of Iraq's crude oil exports since 2003 until now has exceeded $1,000 billion, while the scale of corruption is estimated at $150 billion smuggled abroad through deals," Bahram said in a televised address without giving details.
He proposed setting up an international anti-corruption alliance, patterned after a multinational military coalition that fought IS fighters in Iraq and neighbouring Syria.
"Corruption and terrorism are inter-related," Salih said. He added that he had presented a draft bill to the Iraqi parliament to help retrieve money allegedly smuggled abroad through corruption. - dpa
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