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Elites Loot Africa While Foreign Debt Mounts

Global Financial Integrity hosts an interesting article from the website, Financial Integrity Task force. It come from Yale Global. Its authors are James Boyce and Léonce Ndikumana. They say:


It was an African equivalent of stealing the Brooklyn Bridge, and for four years, nobody noticed. From 2007 to 2010, $32 billion in public funds went missing from Angola. The unexplained money outflow from sub-Saharan Africa’s second largest oil exporter was revealed in a December International Monetary Fund report, which pegged the loss as equivalent to one-quarter of the country’s GDP. This financial hemorrhage comes at a staggering human toll. Despite its great oil wealth, Angola is home to some of the world’s poorest people.

Their point is well made by each of the following videos.

Open the books on corruption, by Publish What You Pay US



1 comment to Elites Loot Africa While Foreign Debt Mounts

  • This is a good video that help raise our consciousness on social issues that reenforce the gap between the rich nations and poor nations. Publish What You Pay information such as this calls for a deeper reflection on our part and and to help circulate this truth.

    It is time of Lent and may this season lead us to reflect some of the reasons of the continous widening of gap between the rich nations and poor nations.

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