Ethiopia under the TPLF is perceived to be one of the most corrupt countries in the world
According to Clark Gascoigne, a spokesperson for the Global Financial Integrity (GFI), the organization’s latest available research data show that the amount of money that Ethiopia lost to illegal smuggling of cash totals 16.5 billion U.S. Dollars out of Ethiopia both by the TPLF/EPRDF regime and the private sector. This make Ethiopia to be one of the most corrupt countries on earth.
A recent report from Financial Action Task Force (FATF), as the global standard setting body for anti-money laundering (AML) and combating the financing of terrorism (CFT), identified Ethiopia as being among the world’s top five worst countries (along with Iran, North Korea, Angola and Ecuador) in the world for strategic AML/CFT deficiencies and called on its members “to consider the risks to the international financial system arising from such deficiencies.”
The FATF stated that “despite its efforts…Ethiopia has not committed to the AML/CFT international standards, nor has it constructively engaged with the FATF or the FSRB as of February 2010.” They indicate that lack of such compliance makes not only Ethiopia, but also others involved with them, whether inside or outside their borders, extremely vulnerable to illicit activities.
Completion of an in-depth independent audit of the Productive Safety Net Program, which would determine if AID funds were used appropriately as well as investigate allegations of politicized misuse of funding. Any investigation should also include the Ethiopian government’s rationale for why only limited areas of Ethiopia have Productive Safety Net Programs; particularly explaining why some of the neediest regions have continued to be excluded for so many years.
Investigate reports of money laundering by members of the TPLF/EPRDF in light of new FATF concerns and continued allegations. The potential international financial risk to anyone dealing with Ethiopia is exacerbated by the amount of large scale foreign investment going on at a rapid pace within the country. This has been accompanied by human rights abuses, dispossessing citizens from their land without compensation and the repression of the political process and the peoples’ rights. Many Ethiopians believe the TPLF regim is robbing the country of its land, resources and finances while brutally suppressing any resistance.