$8 billion secretly taken out of Ethiopia – UN report

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Over 8.3 billion dollars left Ethiopia in 18 years after 1990, an amount comprising an average 3.6pc of its GDP, a damning and first of its kind study, conducted by the United Nations Development Programme (UNDP), revealed.

This is part of the one trillion dollars that is believed to have left LDCs over the years covered by the study, an amount estimated to be 10 times larger than what these countries receive from rich countries in the form of official development assistance (ODA).

Ethiopia’s loss of over eight billion dollars in the past nearly two decades represents an average of 3.6pc of the amount it has received from its development partners during the same period, the study revealed.

 

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