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Afghanistan Bank Bail-out worth 5%-6% of country's GDP

Submitted by Weirami on Tue, 12/25/2012 - 15:45
in

Kabul Bank
Pitiful
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.

http://www.economist.com/news/asia/21567412-shocking-report-...


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Read about this several months ago from alternative media

Submitted by donvino on Tue, 12/25/2012 - 16:39.

Of course the magazine Economist only puts this out now. lol

More foreign aid/free money will be needed obviously. The Japanese and Chinese are good for it...in return for mineral rights, etc.

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donvino