Somalia Piracy Leads to Economic Development

The fruits of Somali piracy are benefitting more than a handful of criminals—they’re being shared with the greater community, a new report based on satellite imagery has found.
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Somalia Piracy Leads to Economic Development
French luxury boat Le Ponant was hijacked by Somali Pirates in April 2008. About $200,000 in suspected ransom money was recovered after French Special Forces freed the ship. Because pirates tend to invest the spoils of their hijackings in local communities, a new report by Chatham House advises this needs to be taken into account in any anti-piracy strategy. (AFP/Getty Images)
1/12/2012
Updated:
10/1/2015
<a><img class="size-large wp-image-1793708" title="French luxury boat Le Ponant was hijacked by Somali Pirates" src="https://www.theepochtimes.com/assets/uploads/2015/09/LUXURY-BOAT-80796687.jpg" alt="French luxury boat Le Ponant was hijacked by Somali Pirates" width="590" height="372"/></a>
French luxury boat Le Ponant was hijacked by Somali Pirates