GEOG 130 Chapter Notes - Chapter 1: Zimbabwe African National Union, Debt Relief, U.S. Bancorp

• School: University of Maryland
• Department: Geographical Sciences
• Course: GEOG 130
• Professor: Luna

Document Summary

This is ultimately what leaves the african countries poor. Attempt for change, but none of it has worked: Africa is often criticized for corruption by government and business leaders. West looks the other way when dirty money is channeled into european and us bank accounts. The west provides the getaway vehicles for theft through offshore companies and investment entities. Rich deposits were discovered in zimbabwe, with enough revenue to fill the public purse and then be spent on improvements to roads, schools, and hospitals. Mines are in operation, but little funds have been put into zimbabwe"s state coffers. Some believe the money is going into president robert mugabe"s ruling. The country"s finance minister has not seen any of the funds. The whole african continent is rich in natural resources that are being exploited, but little money is used for the people"s benefit. Corrupt officials smuggle it out to be deposited in developed world bank accounts.