April 2004: Federal Reserve Sends CPA $750.4 Million in Cash

At the request of the Coalition Provisional Authority, the Federal Reserve Bank sends the CPA $750.4 million in cash during this month. Payments in the same amount were made in February (see February 2004) and March (see March 2004). The money is drawn from the Development Fund for Iraq (DFI)and special US Treasury accounts containing revenues from sales of Iraqi oil exports, surplus dollars from the UN-run oil-for-food program, and frozen assets that belonged to the government of Saddam Hussein. [US Congress, 2/6/2007 ]