Angola Says Stolen Assets Worth More Than $24 Billion Estimate
- Looting has cost more than country’s debt to China: president
- Authorities are deepening probe of graft under previous regime
This article is for subscribers only.
Angolan authorities are likely to unearth far more looting than the current estimate of $24 billion as they deepen their probe into funds that went missing during the previous regime, President Joao Lourenco said on Thursday.
“New things are being uncovered,” Lourenco said in a state-of-the-nation speech on Thursday. “It’s very likely that much bigger numbers will be announced later. This figure alone exceeds the value of Angola’s debt to its main creditor,” he said, referring to China.