Angola Funds

Angola's government has denied a report by human rights watch suggesting that $32

billion are missing from state funds thought to be linked to the state oil company

sonangol. The new york-based watchdog on december the 20th urged the government

to account for missing funds spent or transferred from 2007 through 2010, citing an

international monetary fund report revealing that funds were not properly documented

in the budget. Angola news agency cited a statement from the government saying it

denies the funds are missing. Angola is africa's second-largest oil producer after

nigeria. President jose eduardo dos santos' government has long been accused of

mismanaging oil revenues and doing too little to fight corruption in a country in which

an estimated two-thirds of a population of 18 million live on less than $2 per day.