Angola 

Angola landenbeleid

Beleid vastgesteld op 30 maart 2010

• Er is een landenplafond van 1000 mln euro van kracht
• Het signaleringsplafond is 400 mln euro
• - waarvan per 2010-07-31 93 mln euro benut is

Landenklasse: 6

Garantie Monetaire autoriteit (Min Fin of centrale bank), centrale overheid of Sonangol (onvoorwaardelijk)

Guarantee MoF, central bank, central government, Sonangol

Voor contante zaken in de olie- en gassector is deze zekerheidseis voorwaardelijk

For cash business in the oil and gas sector the security demand may be waived

Good governance control

Angola landenrapport

Country Report last updated: 10 December 2009     Atradius Dutch State Business Economic Research

Country :  ANGOLA 

Political Situation
Rather Stable

Head of state
President José Eduardo dos Santos, since 1979, he is both chief of state and head of government.

Form of government :  Coalition-government strongly dominated by MPLA.

Member of
AU; IMF, IBRD, SADC, COMESA, WTO, AfDB, OPEC
 
Internal Economic Situation
Booming Oil Sector

General situation
Abundant natural resources (oil and diamonds) and a large agricultural potential, but at least one half of the domestic cereal requirements must be imported, due to the destruction of physical infrastructure and the widespread existence of minefields caused by the civil war. The economy is overwhelmingly dependant on oil and (to a lesser extend) diamonds. The revenues are very unequally distributed, Luanda and Cabinda, and the political elite, benefiting much more than other parts of the country. Poverty and corruption remain widespread. (CPI=2.0) A lack of transparency about public finance (including Sonangol & Endiama), public debt and foreign reserves is a significant risk. The unofficial peg to the dollar could not be maintained and the kwanza suffered a 10% depreciation. Further depreciation is not unlikely. The central bank has introduced exchange controls (Dutch auction) which results in payment delays.
Angola has recently reached an agreement with the IMF about a very large $ 1.4 billion SBA. The program focuses on fiscal policy, exchange rate adjustment and financial sector safeguard.    
 
External Economic Situation
Large Surplus Due To Oil Boom

Main sources of foreign exchange
oil & gas (ca. 90%), diamonds

Main foreign markets
USA (39%), China (29%), France (8%), Chile (5%)

Main expenses of foreign exchange
Consumer goods, intermediate goods, capital goods.
 
Balance of payments 
After years of very large surpluses, the lower price of oil (and diamonds) have resulted in a much smaller surplus