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Angola’s Fragile Stabilization, Jose Gasha, Gonzalo Pastor Campos

Abstract
This paper discusses the nature of Angola's disinflation strategy in recent years, with special emphasis on the most recent efforts by the Angolan authorities to stabilize the economy. Looking to the past, the paper stresses the costs of the disinflation strategy, as measured by the central bank sizable foreign exchange intervention and the increase in Angola's external liabilities that unfolded in the process. The paper also notes that non-oil fiscal deficits have remained very large. Looking to the future, the paper stresses the pressing need to reduce demand pressures stemming from sizable government spending on wages and salaries, goods and services, subsidies, and other current transfers to the economy. The prescribed fiscal consolidation effort is viewed as critical to curtail the non-oil fiscal deficit, reduce inflation expectations on a lasting basis, and avoid further foreign borrowing on commercial terms, including loans collateralized by future oil revenues
Table Of Contents
""Contents""; ""I. INTRODUCTION""; ""II. INFLATION, MONEY GROWTH, AND THE NON-OIL FISCAL DEFICIT""; ""III. POLICY INSTRUMENTS IN GOVERNMENT�S DISINFLATION PROGRAM""; ""IV. SHORTCOMINGS IN GOVERNMENT�S DISINFLATION STRATEGY""; ""V. POLICY OPTIONS""; ""VI. CONCLUDING REMARKS""; ""REFERENCES""
Language
eng
Literary Form
non fiction
Note
Description based upon print version of record
Physical Description
1 online resource (28 p.)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781462356027

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