- Home
- Petroleum Pipeline
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Offshore Drilling
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Oil and Natural Gas Prices
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Environment and Pollution
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Liquefied Natural Gas LNG
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Exploration and Discoveries
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Natural Gas Petroleum
- Angola – To Rebuild the Countrys infrastructure-with International Aid
- Home
- Crude Oil Petroleum
- Angola – To Rebuild the Countrys infrastructure-with International Aid
Angola – To Rebuild the Countrys infrastructure-with International Aid
- By Oil and Gas Author
- Published 08/28/2006
- Petroleum Pipeline , Offshore Drilling , Oil and Natural Gas Prices , Environment and Pollution , Liquefied Natural Gas LNG , Exploration and Discoveries , Natural Gas Petroleum , Crude Oil Petroleum
- Unrated
Oil and Gas Author
Oil and Gas Articles features up-to-date, searchable oil and natural gas industry articles, online oil and gas publication service, and a full-text article database covering all areas of the oil and gas industry.
View all articles by Oil and Gas AuthorAngolas economy has grown rapidly over the last few years, which is attributed to the ongoing Oil boom in the sub-Saharan African country. Approximately 90 percent of Angolas government revenues come from the sale of oil, while earnings from diamond exports make up around seven percent. In 2005, Angolas real gross domestic product (GDP) growth rate was 14.4 percent, and the forecast GDP growth rate for 2006 is 14.6 percent. Although economic growth is strong, Angola remains one of the poorest countries on the African continent. Agriculture sustains two-thirds of Angolas population, who continue to live on $1 per day. The Angolan government has sought international aid in efforts to rebuild the countrys infrastructure, which was damaged in 27 years of civil war. As part of this effort, the Angolan Government and the International Monetary Fund (IMF) were engaged in dialogue over a future lending program in 2005. The IMF has asked that Angola disclose information pertaining to foreign debt, provide timely macroeconomic statistics, have a single government account at the Central Bank and increase dialogue on oil revenue management. Meanwhile, the World Bank has approved two investment projects; (1) a credit facility of $24.9 million for post-conflict and rehabilitation program, and (2) a grant worth $25.8 million. In 1980, Angola, in collaboration with eight African nations, founded the Southern African Development Community (SADC). At its core, SADC is working to create peace and security while promoting development and economic growth in southern Africa. In addition to SADC, Angola is a member of the Common Market for Eastern and Southern Africa (COMESA), a 20-member organization working to liberalize trade and promote regional integration. Angola is also a member of the African Union (AU), which works towards sustainable development.
Spread The Word
Article Series
-
Angola – To Rebuild the Countrys infrastructure-with International Aid
