PIRATES REVIVE SOMALI COASTAL ECONOMIES
Nov 20th, 2008 by admin
Somalia’s pirates are transforming once impoverished towns on the country’s northern coast into bustling business hubs. According to Associated Press, the pirates are often the only real business in town. They are building large houses, driving luxury cars and generally driving the local economy using the proceeds from the ransoms paid by hijacked ship-owners. When the hijacked Saudi Arabian oil supertanker anchored on the lawless coast near the village Harardhere, large numbers of people came out to celebrate. The pirates are said to be demanding a $25 million ransom.