Dismiss Notice
You are browsing this site as a guest. It takes 2 minutes to CREATE AN ACCOUNT and less than 1 minute to LOGIN

Is Angola the most corrupt country in Africa?

Discussion in 'International Forum' started by Mzee2000, Dec 2, 2010.

  1. M

    Mzee2000 JF-Expert Member

    #1
    Dec 2, 2010
    Joined: Aug 7, 2009
    Messages: 471
    Likes Received: 28
    Trophy Points: 45
    Angola, the second largest crude producer in sub-Sahara Africa, has gaps in its 2008 oil accounts amounting to billions of dollars and millions of barrels, according to a London-based anti-corruption group.

    There is an $8.55 billion discrepancy between data published by the ministries of finance and petroleum, said a report published today by Global Witness. Sonangol, the state oil company, issued a third amount that was between the two.

    While the southwest African country has published reams of data since 2004 under pressure for more transparency from donors such as the International Monetary Fund, the effort falls short because most of the figures are not independently verified and mistakes persist, campaigner Diarmid O’Sullivan said in a telephone interview.

    “We’ve got no reason to think it’s because of any deliberate misrepresentation,” O’Sullivan said. “The problem is that the numbers are so confusing that there’s not a whole lot that people can do with them.”

    Sonangol and the ministries of finance and petroleum did not reply to written requests from Global Witness to explain the accounting disparities, the group said. Officials at the three agencies did not respond to telephone requests today from Bloomberg News to comment on the report.

    The calculations for 2008 oil income face the problem of “different volumes, average prices and exchange rates which seem to be used in different places,” O’Sullivan said. The group found the finance ministry reported $29.1 billion, the petroleum ministry $20.5 billion and Sonangol $24 billion.

    To contact the reporter on this story: Colin McClelland in Toronto at cmcclelland1@bloomberg.net
     
  2. D

    Derimto JF-Expert Member

    #2
    Dec 2, 2010
    Joined: Nov 4, 2010
    Messages: 1,305
    Likes Received: 1
    Trophy Points: 135
    Hatujatendewa haki na hapa kwetu hawajafanya utafiti wa kutosha tukateni rufaa
     
Loading...