Angola Denies Billions Diverted by Graft

April 11th, 2011


LISBON – Angola, Africa’s second-biggest crude oil producer, has denied a report that it lost almost $6 billion in illicit capital flows in 2009.

Calculations provided to Reuters last week by Washington-based watchdog Global Financial Integrity (GFI) suggest funds equivalent to nearly a sixth of the annual budget went missing in the last year for which data are available.

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