Afghanistan Bank Bail-out worth 5%-6% of country's GDPSubmitted by Weirami on Tue, 12/25/2012 - 15:45
A shocking report on the corruption behind the woes of an Afghan bank
Dec 1st 2012 | KABUL | from the print edition
MORE than two years after the near-collapse of Afghanistan’s biggest private bank, a public inquiry has reported on what went wrong and why. For Afghans trying to build their country and foreigners trying to help, the findings make painful reading. Rescue of Kabul Bank required a bail-out worth 5-6% of GDP, making it one of the world’s largest banking failures relative to a country’s economy.