Corruption is one of the main reasons Africa is so deeply in debt and poverty , and famine and deaths are increasing, Adama Dieng, a governance expert for the African Union (AU), said in the Ethiopian capital Addis Ababa yesterday. “A direct consequence of this is the emergence of a small, young class of billionaires while the vast majority of the population is wallowing in misery,” Dieng said. Africa’s foreign debt is estimated at more than 300bn. In a report prepared last year, but not made public, the AU estimated corruption on the continent increased the costs of goods by as much as 20%. Full Story
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