Monday, October 07, 2013

How privatization in Serbia went wrong

RFERL has an investigative reporting article (Documents Show How Serbian Companies Were Pillaged By Offshore Firms) that discusses the fate of the company Agrohem that was privatizing in 2003 and then pilfered Russian style by some investment companies based in tax paradises. It was not the only one: According to the article Almost 2,000 of the 3,017 state-owned enterprises that were privatized between 2001 and 2011 have ceased operations or sunk into bankruptcy or are on the verge of closing down, according to the Social and Economic Council of Serbia, a joint governmental and labor-union body.

No comments: