Finance and Economics > The Money Board

Angola just implement overt Capital Controls - or how I am screwed.

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sams:

--- Quote from: Morning Sunshine on October 03, 2019, 07:19:45 AM ---any other updates, Sams? it has been 3-4 years.

--- End quote ---

Hello Morning Shunshine

Yes it has been some time ... lets say I fell onto a "later teenage years" spell and spent the last 2 years blowing off my money and getting in trouble. But at least I got a sun.

Do you have a specific question ?

Basically :
- Angola got a new president
- Oil production has peaked at 2.5 millions barrels per day and now is declining
- in 3 years population increased and now is 25 millions souls
- economy is in crisis due to lack of oil revenue and increase in all spendings and costs
- inflation has now increased again
- IMF required the government to impose VAT taxes and reduce subsidies on basic products.

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