{
  "title": "Angola: Recent Economic Developments",
  "publication": "IMF Staff Country Reports, December 19, 1995",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/angola-recent-economic-developments-627",
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  "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.",
  "sections": [
    {
      "heading": "Overview and key findings",
      "content": "- The paper describes economic developments in Angola during the 1990s.\n- A major decline in economic conditions occurred in 1993, in the wake of the resumption of the civil war.\n- In 1993:\n  - inflation reached unprecedented levels.\n  - overall GDP declined by an estimated 24 percent in real terms.\n  - oil production experienced a downturn for the first time, in part as a result of the destruction of a major onshore oil facility.\n  - export earnings from crude oil were also hit by the decline in world oil prices.\n- Despite these developments, the economy became increasingly dependent on oil."
    },
    {
      "heading": "Analytical themes and subjects covered",
      "content": "- Commercial banks\n- Commodities\n- Financial institutions\n- Foreign exchange\n- Imports\n- International trade\n- Oil\n- Oil, gas and mining taxes\n- Taxes"
    },
    {
      "heading": "Keywords and focus areas",
      "content": "- Africa\n- balance of payments\n- central bank\n- Commercial banks\n- CR\n- debt service\n- exchange rate\n- fixed price\n- foreign exchange\n- gas and mining taxes\n- government finances\n- Imports\n- ISCR\n- net exporter\n- Oil\n- real value\n- reform effort"
    },
    {
      "heading": "Notes and attribution",
      "content": "- This report was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country.\n- The views expressed 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.\n\nInternational Monetary Fund. \"Angola: Recent Economic Developments\", IMF Staff Country Reports 1995, 122 (1995)."
    }
  ],
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    "Published: December 19, 1995",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451800470.002",
    "The 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:",
    "Despite these developments, the economy became increasingly dependent on oil.",
    "Africa",
    "balance of payments",
    "central bank",
    "CR",
    "debt service",
    "exchange rate",
    "fixed price",
    "gas and mining taxes",
    "government finances",
    "ISCR",
    "net exporter",
    "real value",
    "reform effort",
    "This report was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country.",
    "The views expressed 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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