Elites Loot Africa, Foreign Debt Mounts

Elites Loot Africa, Foreign Debt Mounts

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.

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