Report shines rare light on Somali gov't finances - WAOW - Newsline 9, Wausau News, Weather, Sports

Report shines rare light on Somali gov't finances

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NAIROBI, Kenya (AP) -- A whistleblowing report by a former Somali government official says that while tens of thousands of its citizens were dying from famine, the U.N.-backed Somali government spent only $1 million on social services despite having $58 million in revenue.

The report shines a rare light on the chaotic and secretive financial dealings of the failed state's weak government. It details cash transactions, a disappearing pirate ransom and purported donations from Arab nations.

Somali government officials, however, dispute the report, saying it does not reflect the reality on the ground and lacks credibility and data.

Analysts say improving the accountability of money that comes in and out of the government is key to solving Somalia's 21-year-old civil war.

Last week donors and Somali officials agreed to set up a joint board to manage Somalia's finances.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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