Angola: The Cash-Strapped Kleptocracy Seeks an IMF Bailout

opinion

Angolan Finance Ministry officials seem to have learned nothing from the past. With low oil prices dragging the economy into crisis, the Ministry has had to turn to the International Monetary Fund (IMF) for a bailout.

But Angolan officials are so desperate to conceal the extent of their troubles, that their official statement pretends this is a 'normal' IMF intervention, not at all like the rescue that Portugal needed just a few years ago.

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