Cover IMF Staff Country Reports
Angola: Recent Economic Developments
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 1995: Issue 122
Language:
English
Publication Date:
19 Dec 1995
DOI:
https://doi.org/10.5089/9781451800470.002
ISBN:
9781451800470
ISSN:
1934-7685
Pages:
93
Keywords:
ISCR; CR; fixed price; net exporter; government finances; reform effort; real value; debt service; exchange rate; balance of payments; foreign exchange; central bank; Oil; Imports; Commercial banks; gas and mining taxes; Africa
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This paper describes economic developments in Angola during the 1990s. A major decline in economic conditions occurred in 1993, in the wake of the resumption of the civil war. In 1993, inflation reached unprecedented levels, overall GDP declined by an estimated 24 percent in real terms, and oil production experienced a downturn for the first time, in part as a result of the destruction of a major onshore oil facility. Export earnings from crude oil were also hit by the decline in world oil prices. Nevertheless, the economy became increasingly dependent on oil.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 1995: Issue 122