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Wall Street: Woyanes Stole $11.7 Billion Dollars From the Ethiopian People in Less than Ten Years
by revolutions » Tue Dec 06, 2011 7:03 am “The people of Ethiopia are being bled dry. No matter how hard they try to fight their way out of absolute destitution and poverty, they will be swimming upstream against the current of illicit capital leakage.”
Ethiopian Illicit Outflows Doubled In 2009,
New Report Says
December 5, 2011
By Christopher Matthews
Ethiopia lost $11.7 billion to outflows of ill-gotten gains between 2000 and 2009, according to a coming report by Global Financial Integrity.
That’s a lot of money to lose to corruption for a country that has a per-capita GDP of just $365. In 2009, illicit money leaving the country totaled $3.26 billion, double the amount in each of the two previous years. The capital flight is also disturbing because the country received $829 million in development aid in 2008.
According to GFI economist Sarah Freitas, who co-authored the report, corruption, kickbacks and bribery accounted for the vast majority of the increase in illicit outflows.
“The scope of Ethiopia’s capital flight is so severe that our conservative US$3.26 billion estimate greatly exceeds the US$2 billion value of Ethiopia’s total exports in 2009,” Freitas wrote in a blog post on the website of the Task Force on Financial Integrity and Economic Development.
The report, titled “Illicit Financial Flows from Developing Countries over the Decade Ending 2009,” drew on data from the World Bank and the International Monetary Fund on external debt and trade mis-pricing to calculate illicit capital leakage. The study, which will be released later this month, measures the illicit financial flows out of 160 different developing nations.
Ethiopia is one of the poorest countries on earth as 38.9% of Ethiopians live in poverty, and life expectancy in 2009 was just 58 years.
“The people of Ethiopia are being bled dry,” Freitas wrote. “No matter how hard they try to fight their way out of absolute destitution and poverty, they will be swimming upstream against the current of illicit capital leakage.”
http://blogs.wsj.com/corruption-current ... _news_blog
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Re: Wall Street: Woyanes Stole $11.7 Billion Dollars From the Ethiopian People in Less than Ten Year
by revolutions » Tue Dec 06, 2011 7:09 am 
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Re: Wall Street: Woyanes Stole $11.7 Billion Dollars From the Ethiopian People in Less than Ten Year
by Shalom » Tue Dec 06, 2011 11:29 am In the country like Ethiopia where certain groups of people (Tigrians) are above the law, and do whatever they want to do without being accountable, the inevitability of corruption and embezzlement is unquestionable.
You can imagine, having more than 3 million thieves in one poor country protected by the army, security and justices system; even the richest country, America could not have enough to entertain such kind of debase creatures.
Of course, the Tigrain gangs do not have any sympathy; seemingly they do not have any heart or skin to feel the suffering of their own people. Without doubt, they do not consider the non-Tigrian Ethiopians as one of them, so that they do not have any compassion, while they are stealing from the mouth of malnourished Ethiopians.
The majority of Ethiopians even do not have any food to put on their table, while the few Tigrian are embezzling the country’s property and spend it extravagantly.
Not only staying with empty stomach and see their little ones dies with hunger in their hand, but also they are terrorized and abuse by Agazi mercenaries in a daily base, which is the same as adding salt in their wound.
Ethiopians should wake up and protect themselves from the ravenous wolves (Tigrian gangs), otherwise we all die painful as well as shameful death, since the ultimate goal of the Tigrain gangs are to starve and humiliate us.
I am sure if it was not 21st century and the world did not have bad experience from the Nazi crime, the Tigria gangs would not hesitate to send us to the gas chamber and boil our body.
They love to see non-Tigrain children die in masses as the same as the Nazi used to entertain for the Jews children died in masses.
Those who are expecting any positive from the Tigrian gangs should reevaluate their judgment and see what had happened to the Jews in Second World War.
I would not hesitate to call them black Nazis, as they are the incarnation of Nazi in Ethiopia and of course they have so many similarities with Nazi thugs as well as the previous South Africa apartheid regime.
You can imagine, having more than 3 million thieves in one poor country protected by the army, security and justices system; even the richest country, America could not have enough to entertain such kind of debase creatures.
Of course, the Tigrain gangs do not have any sympathy; seemingly they do not have any heart or skin to feel the suffering of their own people. Without doubt, they do not consider the non-Tigrian Ethiopians as one of them, so that they do not have any compassion, while they are stealing from the mouth of malnourished Ethiopians.
The majority of Ethiopians even do not have any food to put on their table, while the few Tigrian are embezzling the country’s property and spend it extravagantly.
Not only staying with empty stomach and see their little ones dies with hunger in their hand, but also they are terrorized and abuse by Agazi mercenaries in a daily base, which is the same as adding salt in their wound.
Ethiopians should wake up and protect themselves from the ravenous wolves (Tigrian gangs), otherwise we all die painful as well as shameful death, since the ultimate goal of the Tigrain gangs are to starve and humiliate us.
I am sure if it was not 21st century and the world did not have bad experience from the Nazi crime, the Tigria gangs would not hesitate to send us to the gas chamber and boil our body.
They love to see non-Tigrain children die in masses as the same as the Nazi used to entertain for the Jews children died in masses.
Those who are expecting any positive from the Tigrian gangs should reevaluate their judgment and see what had happened to the Jews in Second World War.
I would not hesitate to call them black Nazis, as they are the incarnation of Nazi in Ethiopia and of course they have so many similarities with Nazi thugs as well as the previous South Africa apartheid regime.
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Re: Wall Street: Woyanes Stole $11.7 Billion Dollars From the Ethiopian People in Less than Ten Year
by Ghirmawi » Tue Dec 06, 2011 11:52 am while the few Tegarus are accumulating Billions of dollars in the name of AID for poor, the poor are hunging on the cliff of life and death like this Ogadenean boy. What goes around comes around. Too sad!
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Re: Wall Street: Woyanes Stole $11.7 Billion Dollars From the Ethiopian People in Less than Ten Year
by Facts » Tue Dec 06, 2011 12:05 pm I am sorry to say that I enjoyed some of this money at a very opulent wedding not too long ago in US. I knew where all the money for the beautiful location, fine food, great entertainment was coming from but I could not walk out of wedding of friend or tell them that their spouse's family stole all this money from poor people.
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