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Angola :, Selected Issues Paper

This Selected Issues paper describes external balance assessment in Angola. Angola’s external balance appears sustainable under current assumptions regarding the evolution of oil prices and output/exports, but the economy’s lack of diversification implies that it remains highly vulnerable to declines in the oil price and disruptions in oil production. Moreover, to the extent that the commercial viability of future oil production from the pre-salt deposits is still uncertain, risks to oil output are on the downside. Given the high pass-through of the nominal exchange rate to prices, improving competitiveness should focus on measures to improve the country’s business climate and infrastructure. The assessment of reserve adequacy shows that international reserves are currently adequate for precautionary purposes, but the high (although declining) level of dollarization in the financial system implies that a higher benchmark is appropriate; staff sees limited scope for drawing down reserves
Table Of Contents
Cover; CONTENTS; EXTERNAL BALANCE ASSESSMENT; A. Current Account Balance; FIGURES; 1. Composition of Exports by Product 2012; 2. Exports by Country of Destination 2012; 3. Oil Exports and Prices, 2011M1 to 2013M12; 4. Oil Output, 2000-2013; 5. Composition of Imports by Type of good, 2012; 6. Composition of Imports by Type of good, 2008-2012; B. Capital and Financial Account Balance; 7. Gross Fixed Capital Formation, Average 2008-12; 8. Current Account Composition, 2000-12; C. Change in International Reserves; 9. Capital and Financial Account Composition, 2000-13; D. Assessing Reserve Adequacy
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (32 p.)
Specific Material Designation
Form Of Item

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