Sudan's Oil Money Curse: Ex-President Arrested, Suitcases Stuffed With Millions in Cash

[Tom Kirkman + 8,860]

So I was reading an article this morning about Sudan and its oil problems and its ex-President. 

I about choked in disbelief at the whitewash gloss attempt in this first article below, about Sudan's clearly corrupt leader "serving" Sudan for almost 30 years. 

"One of the world’s longest-serving rulers" should be a hint at Sudan's absolute dictatorship of Omar Al Bashir.

The article attempts to blame the price of oil 5 years ago on Sudan's difficulties, rather than laying the responsibility squarely on its corrupt dictator who was in power for almost 30 years, Al Badhir's "use by" date clearly expired:

Was the fate of Sudan's ruler sealed when oil prices fell?

One of the world’s longest-serving rulers, Omar Al Bashir of Sudan, has been forced out by protests after almost 30 years. But was Mr Al Bashir’s fate sealed eight years ago, when South Sudan became independent, or five years ago, when oil prices fell?

... Oil exploration took a long time to get going in Sudan, Africa’s largest country before its break-up. Chevron of the US did the initial work in the late 1970s, but civil war against southern rebels broke out in 1983 when then-president Gaafar Numeiri imposed Islamist policies. Numeiri was overthrown by popular protests in 1985, Mr Al Bashir seized power in 1989, but war continued, both in the south and in the western Darfur region.

Oil production began in 1992, most of it in what is now South Sudan, but with the benefits flowing to Khartoum. In 2011, South Sudan finally became independent, but the divorce settlement had two crucial flaws in its handling of oil. And as petroleum was fated to remain the foundation of the economy in both Sudans, at least initially, this doomed them to disaster.

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Ok, time for a reality check. 

Sudan's ex-president Omar al-Bashir investigated over suitcases stuffed with cash

Millions of dollars worth of cash in US dollars, euros and Sudanese pounds has been found in suitcases at the home of former Sudanese president Omar al-Bashir, according to a judicial source.

Key points:

• Sudan's ex-president Omar al-Bashir was recently ousted amid protests against his rule
• He and two of his brothers have now reportedly been detained on corruption allegations
• Mr Bashir is also being sought by the International Criminal Court over alleged genocide

The source told Associated Press Sudan's public prosecutor has begun investigating Mr Bashir on charges of money laundering and possession of large sums of foreign currency without legal grounds.

The source said military intelligence searched Mr Bashir's home and found suitcases loaded with more than $10 million in the three currencies: $US351,000 ($490,000), 6 million euros ($8.38 million), and 5 million Sudanese pounds ($150,000).

 

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Sudan's problem is probably less of the notorious "Oil Curse" and more of the "Corrupt Absolute Dictator" curse.

Here's hoping the long-suffering people of Sudan can catch a break.  But if history is any indicator, a new dictator will simply replace the old dictator.  Meet the New Boss, same as the Old Boss.  Who probably will bring even bigger suitcases to stuff oil cash into.

[ceo_energemsier + 1,818]

11 minutes ago, Tom Kirkman said:

So I was reading an article this morning about Sudan and its oil problems and its ex-President. 

I about choked in disbelief at the whitewash gloss attempt in this first article below, about Sudan's clearly corrupt leader "serving" Sudan for almost 30 years. 

"One of the world’s longest-serving rulers" should be a hint at Sudan's absolute dictatorship of Omar Al Bashir.

The article attempts to blame the price of oil 5 years ago on Sudan's difficulties, rather than laying the responsibility squarely on its corrupt dictator who was in power for almost 30 years, Al Badhir's "use by" date clearly expired:

Was the fate of Sudan's ruler sealed when oil prices fell?

One of the world’s longest-serving rulers, Omar Al Bashir of Sudan, has been forced out by protests after almost 30 years. But was Mr Al Bashir’s fate sealed eight years ago, when South Sudan became independent, or five years ago, when oil prices fell?

... Oil exploration took a long time to get going in Sudan, Africa’s largest country before its break-up. Chevron of the US did the initial work in the late 1970s, but civil war against southern rebels broke out in 1983 when then-president Gaafar Numeiri imposed Islamist policies. Numeiri was overthrown by popular protests in 1985, Mr Al Bashir seized power in 1989, but war continued, both in the south and in the western Darfur region.

Oil production began in 1992, most of it in what is now South Sudan, but with the benefits flowing to Khartoum. In 2011, South Sudan finally became independent, but the divorce settlement had two crucial flaws in its handling of oil. And as petroleum was fated to remain the foundation of the economy in both Sudans, at least initially, this doomed them to disaster.

===============================

Ok, time for a reality check. 

Sudan's ex-president Omar al-Bashir investigated over suitcases stuffed with cash

Millions of dollars worth of cash in US dollars, euros and Sudanese pounds has been found in suitcases at the home of former Sudanese president Omar al-Bashir, according to a judicial source.

Key points:

• Sudan's ex-president Omar al-Bashir was recently ousted amid protests against his rule
• He and two of his brothers have now reportedly been detained on corruption allegations
• Mr Bashir is also being sought by the International Criminal Court over alleged genocide

The source told Associated Press Sudan's public prosecutor has begun investigating Mr Bashir on charges of money laundering and possession of large sums of foreign currency without legal grounds.

The source said military intelligence searched Mr Bashir's home and found suitcases loaded with more than $10 million in the three currencies: $US351,000 ($490,000), 6 million euros ($8.38 million), and 5 million Sudanese pounds ($150,000).

 

====================================

Sudan's problem is probably less of the notorious "Oil Curse" and more of the "Corrupt Absolute Dictator" curse.

Here's hoping the long-suffering people of Sudan can catch a break.  But if history is any indicator, a new dictator will simply replace the old dictator.  Meet the New Boss, same as the Old Boss.  Who probably will bring even bigger suitcases to stuff oil cash into.

Its the same story , rinse and repeat. It is not the "oil curse", but rather the curse of the greed of the politicians and leaders of these resource rich and or resource semi rich nations. Nigeria, Ghana, Angola, Chad, Equatorial Guinea, Zimbabwe (diamonds etc), Cameroon, South Africa (mining mainly),  Libya , Sao Tome (lot of problems and they still havent produced oil but sold off oil blocks for lots of $$$)