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Wednesday, July 10, 2013

Corruption keeps Ethiopia mired in poverty

LOS ANGELES, CA (Catholic Online) - "Bankers, miners and developers presenting projects to investment committees in countries that fare badly in corruption rankings frequently struggle to get investment. Corruption raises red flags because it makes local markets uncompetitive, unpredictable and therefore largely hostile to these long-term players," Ed Hobey, the East Africa analyst at the political risk firm Africa Risk Consulting says.

In the biggest crackdown on corruption in Ethiopia in the last 10 years, authorities arrested more than 50 high profile people including government officials, businessmen and a minister last month.

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