The panel is expected to consist of former US Federal Reserve Board head Paul Volcker, Swiss banking expert Mark Pieth and South African judge Richard Goldstone.
According to UN spokesman Fred Eckhard, “Letters of appointment for the panel members [are] going out late Tuesday or Wednesday. The UN Security Council is expected to adopt a resolution endorsing the independent inquiry after receiving the letters.”
Allegations of corruption surfaced in January when Iraq’s Al-Mada released a list of 270 names from over 46 countries; names of people the paper alleged received bribes from the Saddam Hussein regime to the tune of US$10 billion. Amongst the list of names is Benon Sevan, the man in charge of the program.
Sevan has denied the allegations he and the program, which began in December 1996 to allow Iraq to export more than US$60 billion worth of oil to purchase food and medicines, was tainted by corruption. UN Secretary-General Kofi Annan has promised to launch a complete investigation into the allegations.
The program was shutdown last November.
