Angola: “$24 Billion lost under Dos Santos” says president Lourenço
Angola’s President, Joao Lourenço continues to go after former president José Eduardo Dos Santos. In an interview with the Wall Street Journal, Lourenco estimated that the country lost up to US$24 billion dollars under the former administration of president José Eduardo dos Santos.
According to the president, over half of the figure US$13.5 billion dollars, were diverted through fraudulent contracts with state oil company Sonangol, one of Angola’s leading institutions.
It’s Twice the country’s net foreign currency reserves. The Wall Street Journal noted that the figure revealed by João Lourenço was not independently confirmed, but is “consistent with the substantial sums” already seized last year from Isabel and Filomeno dos Santos, the former president’s children.
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