Watching Government - Angola and IMF

08/04/2003
Attractive geology and reform-minded politicians make Angola an encouraging place to drill for oil.Companies hope the country's new leaders follow the advice of the International Monetary Fund, which may lend the sub-Saharan nation money provided future loans are tied to tighter anticorruption measures. Angola relies on oil sales for about half of its gross domestic product and is shortly expected to increase production to 1 million b/d of oil, possibly by next year.This month Angola and IMF are expected to spell out new fixes for an economy torn by 28 years of civil war.HousecleaningUnder an April 2000 deal with IMF, Angola allowed outside auditors to examine how the government spen...
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