U.N. says to help Iraq tackle rampant corruption
- Wall Street surges to new highs; transports set record
- lululemon athletica (LULU) Tops Q3 EPS by 4c; Adj.-Comps Outpaced Views
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Costco Wholesale (COST) Tops Q1 EPS by 5c; Comps Up 1%, 2% Ex-Gas
- After-Hours Stock Movers 12/07: (VYGR) (LULU) (HRB( Higher; (OHRP) (VRNT) (CMTL) Lower (more...)
A security guard walks past the United Nations logo at the U.N. Headquarters in New York, August 31, 2013. REUTERS/Carlo Allegri
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
BAGHDAD (Reuters) - A United Nations agency said on Thursday it would help Iraq to tackle endemic graft that is eroding its economy and institutions as Baghdad struggles to defeat Islamic State militants.
The U.N. Development Program will recruit international investigators to mentor and train Iraqi government auditors tasked with corruption investigations, it said in a statement released after a signing ceremony with the Iraqi government.
Oil-rich Iraq ranks 161st out of 168 nations in Transparency International's Corruption Index.
Thirteen years after the U.S.-led invasion that toppled Saddam Hussein, the country still suffers a shortage of electricity, water, schools and hospitals, while existing facilities and infrastructure suffer widespread neglect.
Health Minister Adila Hamoud offered to resign on Wednesday after 13 premature babies were killed in a fire at a hospital in Baghdad, amid accusations of negligence and lack of maintenance at government healthcare facilities.
Graft has exacerbated the effects on the economy of a sharp decline in oil revenue caused by falling crude prices and the costs of fighting Islamic State, which has controlled large parts of northern and western Iraq since 2014.
(Reporting by Maher Chmaytelli; Editing by Gareth Jones)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Quake of magnitude 6.2 strikes China's Xinjiang, no reports of casualties
- 'La La Land' duo Emma Stone, Ryan Gosling cement mark in Hollywood
- EU unblocks visa-free travel for Ukraine, Georgia
Create E-mail Alert Related CategoriesReuters
Related EntitiesCrude Oil
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!