How the US sent $12bn in cash to Iraq. And watched it vanish Special flights brought in tonnes of banknotes which disappeared into the war zone
An armed guard poses beside pallets of $100 bills in Baghdad. Almost $12bn in cash was spent by the US-led authority
David Pallister
The US flew nearly $12bn in shrink-wrapped $100 bills into Iraq, then distributed the cash with no proper control over who was receiving it and how it was being spent.
The staggering scale of the biggest transfer of cash in the history of the Federal Reserve has been graphically laid bare by a US congressional committee.
In the year after the invasion of Iraq in 2003 nearly 281 million notes, weighing 363 tonnes, were sent from New York to Baghdad for disbursement to Iraqi ministries and US contractors. Using C-130 planes, the deliveries took place once or twice a month with the biggest of $2,401,600,000 on June 22 2004, six days before the handover.