Friday, December 11, 2015

US$1bn Vanishing Act In Kenya


Kenyan newspaper front pages BBC

The Kenyan newspaper front pages are dominated by the latest episode in a story about US$1bn which appear to have vanished. BBC News reports that Kenyan opposition leader Raila Odinga is refusing to talk to anti-corruption police about the 140bn Kenyan shillings (US$1.3bn/ £905m) that he had alleged had gone missing from the government.

He is arguing that as he is just a whistle blower, that he has alerted the public to the missing money and doesn’t need to be interrogated.  

The money was from loans - called Eurobonds - sold on the Irish stock exchange and was intended to be spent on infrastructure and to ease domestic borrowing.

No comments: