The Angolan government has consistently mismanaged its substantial oil revenues and, despite rhetorical commitments, has yet to demonstrate a meaningful commitment to reform. In recent years, literally billions of dollars in oil revenues have illegally bypassed the central bank and remain unaccounted for. Such missing revenues reflect a failure of government accountability more generally and are directly linked to the Angolan government’s continuing failure to foster institutions that uphold the rule of law and human rights. The sums involved are staggering. From 1997 to 2002, unaccounted for funds amounted to some U.S.$4.22 billion. In those same years, total social spending in the country—including Angolan government spending as well as public and private initiatives funded through the United Nations’ Consolidated Inter-Agency Appeal—came to $4.27 billion. In effect, the Angolan government has not accounted for an amount roughly equal to the total amount spent on the humanitarian, social, health, and education needs of a population in severe distress.