Tag Archives: illicit financial flow

Ethiopia lost $36B in illicit financial flows

by Engidu Woldie ESAT News (December 11, 2018) Ethiopia has lost about $36B in illicit financial flows in the past 27 years, according to a new study by an Ethiopian macroeconomist. Dr. Eyob Tesfaye, a macroeconomist consultant, told FM 102.1 Radio in Addis Ababa that misinvoicing was one of the schemes money made its way out of the country, which ...

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Ethiopia: PM says govt officials with offshore accounts under investigation

ESAT News (May 15, 2018) Ethiopia’s Prime Minister, Abiy Ahmed, said government officials who have offshore bank accounts are under investigation. The news by the Ethiopian News Agency did not say if the Premier had mentioned the countries where the monies were allegedly stashed, but quoted Dr. Ahmed as saying that countries are cooperating in the investigations. According to the ...

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Ethiopia: Illicit capital flight much higher than estimates, says ex-intelligence officer

ESAT News (November 21, 2016) Illicit financial flows from Ethiopia could be much higher than those estimates by international financial institutions including the Global Financial Integrity, a former intelligence operative told ESAT. The revenue from the export of cash crops and other exports such as flower, coffee, honey, cattle, incense, among others, would just be transferred to a foreign bank, ...

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