Angola Denies $32 Billion Missing in State Funds

Posted January 18th, 2012 at 10:00 am (UTC-5)
Leave a comment

Angola's government is denying reports that $32 billion has gone missing from state funds thought to be linked to the country's state-run oil company.

In a statement Wednesday, reported in Angolan media, the government denied the missing money, saying there was a discrepancy in the accounts related to inadequate record keeping.

It said authorities are working with the International Monetary Fund to analyze fiscal, monetary, foreign exchange and balance of payment data to reconcile the discrepancy.

New York-based Human Rights Watch has urged the government to disclose efforts to account for the funds which went missing between 2007 and 2010.

The government called the accusations of misused money part of a habitual campaign to discredit Angola's leaders and institutions.