Angola: Recent Economic Developments

December 19, 1995

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Angola: Recent Economic Developments, (USA: International Monetary Fund, 1995) accessed November 22, 2024

Summary

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.

Subject: Commercial banks, Commodities, Financial institutions, Foreign exchange, Imports, International trade, Oil, Oil, gas and mining taxes, Taxes

Keywords: Africa, Balance of payments, Central bank, Commercial banks, CR, Debt service, Exchange rate, Fixed price, Foreign exchange, Gas and mining taxes, Government finances, Imports, ISCR, Net exporter, Oil, Real value, Reform effort

Publication Details

Pages:

93
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1995/122
Stock No:

1AGOEA0011995
ISBN:

9781451800470
ISSN:

1934-7685

Notes

This report on recent economic developments in Angola was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. As such, the views expressed in this document are those of the staff team and do not necessarily reflect the views of the Government of Angola, or the Executive Board of the IMF.

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