Equatorial Guinea: Oil Wealth        Squandered and Stolen #guyana

manna from heaven guyana 🙂 sounds familiar?

The 85-page report, “‘Manna From Heaven’?: How Health and Education Pay the Price for Self-Dealing in Equatorial Guinea,” reveals that the government spent only 2 to 3 percent of its annual budget on health and education in 2008 and 2011, the years for which data is available, while devoting around 80 percent to sometimes questionable large-scale infrastructure projects. The report also exposes how, according to evidence presented in money laundering investigations carried out by several countries, senior government officials reap enormous profits from public construction contracts awarded to companies they fully or partially own, in many cases in partnership with foreign companies, in an opaque and noncompetitive process. 

https://www.hrw.org/news/2017/06/15/equatorial-guinea-oil-wealth-squandered-and-stolen

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