WASHINGTON, Feb. 9 (Xinhuanet) -- Two U.S. government watchdogs said Iraq will need more money to rebuild than the 56 billion U.S. dollars forecast by the World Bank and the United Nations in 2003, U.S. media reported Thursday.
"That number in fact will be much higher," said Stuart Bowen, the U.S. special inspector general for Iraq reconstruction, though he did not go into detail.
Joseph Christoff, director of international affairs at the U.S. Government Accountability Office (GAO), said insurgent attacks, looting, and sabotage are increasing war recovery costs while Iraq's water, sewer, and electricity systems are in worse shape than previously thought.
Both of them said that Iraq's oil refineries and pipelines are also in need of repairs.
The World Bank, the United Nations and the U.S.-led Coalition Provisional Authority estimated in 2003 that Iraq's reconstruction needs through 2007 would be about 56 billion dollars.
The U.S. authorized 18.4 billion dollars for Iraq rebuilding, with an expectation that other countries and companies would contribute to the total, along with Iraqi oil revenue.
International donors have so far provided only 2.7 billion dollars of the 13.6 billion dollars pledged for Iraq's reconstruction.
Christoff said Iraq's ability to help pay for its own rebuilding will depend on the new government's success in boosting revenue from crude oil exports, reducing energy and food subsidies, paying for a growing security force and making payments to international creditors and victims of the 1990 invasion of neighboring Kuwait.
However, he said Iraqi officials are having problems producing and refining oil and protecting refineries and pipelines from attacks, and that the country will need more money to achieve its production goals.
Iraq pumped 1.53 million barrels of crude a day in January. Theaverage output during the past five years was 1.92 million barrelsa day because of higher production before the 2003 U.S. invasion. Enditem |