## Angola: Recent Economic Developments

_IMF Staff Country Reports, December 19, 1995_

## Source details

**Canonical URL:** [Angola: Recent Economic Developments](https://www.imf.org/en/publications/cr/issues/2016/12/30/angola-recent-economic-developments-627)

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## Bibliographic details
- Published: December 19, 1995
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451800470.002

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### Overview and key findings
- 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:
  - inflation reached unprecedented levels.
  - overall GDP declined by an estimated 24 percent in real terms.
  - 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.
- Despite these developments, the economy became increasingly dependent on oil.

### Analytical themes and subjects covered
- Commercial banks
- Commodities
- Financial institutions
- Foreign exchange
- Imports
- International trade
- Oil
- Oil, gas and mining taxes
- Taxes

### Keywords and focus areas
- 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

### Notes and attribution
- 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.

*International Monetary Fund. "Angola: Recent Economic Developments", IMF Staff Country Reports 1995, 122 (1995).*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/angola-recent-economic-developments-627_