Q38 - Nonrenewable Resources and Conservation: Government PolicyReturn

The article describes the state and development of Angolan economy. From being one of the strongest economies in Africa, Angola was transformed by long-term civil conflict into debris of its former fame. Fortunately, the fighting has finished a few years ago and fortunately again, Angola is rich in natural resources, above all in oil. This article looks at the recent developments of Angolan economy and the lack of government's good will and capacity to use the vast and growing oil revenue for the benefit of national economy. Thanks to the situation of world oil market Angolan government can easily push aside the international calls for reforms and transparency and access sufficient financial resources from the likes of China. Still, there is a hope Angolan government will yield under the international pressure and reform its macroeconomic policies. This is the premise for returning to Angola's former economic shape.