Angola's Awash in Oil Money, Corruption

Angola's Awash in Oil Money, Corruption

www.mainjustice.com

“Suddenly everybody is acting as a suitor and the Angolans are beating their chests about their ability to engage a wide range of players without being dictated to, something that not many African countries can boast.”

Angola has even secured a 1.4 billion loan from the International Monetary Fund (IMF). Despite all the good news, AFP reports that two-thirds of Angolans still live on less than two dollars a day and Transparency International last month rated Angola the 18th most corrupt

(visit the link for the full news article)

What really got me thinking was when I read that the IMF was involved. When the IMF is involved that means there is a very slim chance that the nation will be able to pay back the loan. Which means the IMF will be cutting a deal to get the resources for almost nothing. According to the article, the corruption is already there, so maby when it all goes down it at least wont be to violent.

www.mainjustice.com
(visit the link for the full news article)

reply to post by RedGolem


True, it has happened time and time again in Africa. Striking it rich with some scarce resource soon brings in the greed, destabilization, mercenaries and coup de' tats.

It seems more a curse than a blessing, and the starving populace never seem to benefit.

It's rape and pillaging 21st Century style.