Rescuing the Angolan Economy
President José Eduardo dos Santos admits Angola is running out of money but he has yet to outline any sort of rescue plan. Is Angola teetering on the precipice of economic disaster? Or is it already in the abyss? In spite of international entreaties to diversify the economy and reduce its dependence on imports, the MPLA government has so far failed to make meaningful changes to ensure self-sufficiency. So if the national bank has run out of money to pay for imported goods, what is the alternative? How can the government guarantee a continued supply of food to the Angolan people? Are they to starve? Can the President tell us where he expects to find the resources to avert calamity? With Angola already having to service billion dollar loans, the President may have run out of collateral. Clearly his generation of governing officials won’t have to bear the burden of […]
Read more