INTRODUCTION
BACKGROUND:
Angola is rebuilding its country after the end of a 27-year civil war in 2002. Fighting between the Popular Movement for the Liberation of Angola (MPLA), led by Jose Eduardo DOS SANTOS, and the National Union for the Total Independence of Angola (UNITA), led by Jonas SAVIMBI, followed independence from Portugal in 1975. Peace seemed imminent in 1992 when Angola held national elections, but fighting picked up again by 1996. Up to 1.5 million lives may have been lost - and 4 million people displaced - in the quarter century of fighting. SAVIMBI's death in 2002 ended UNITA's insurgency and strengthened the MPLA's hold on power. President DOS SANTOS held legislative elections in September 2008 and, despite promising to hold presidential elections in 2009, has since pushed through a new constitution that calls for elections in 2012.
Area: total: 1,246,700 sq km
country comparison to the world: 23
land: 1,246,700 sq km
water: 0 sq km.
People:
population: 13,338,541 (July 2011 est.)
country comparison to the world: 70.
Major cities: LUANDA (capital) 4.511 million; Huambo 979,000 (2009).
Religion: Indigenous beliefs 47%, Roman Catholic 38%, Protestant 15% (1998 est.)
Languages: Portuguese (official), Bantu and other African languages.
Country name: conventional long form: Republic of Angola.
conventional short form: Angola.
local long form: Republica de Angola.
local short form: Angola.
former: People's Republic of Angola.
Capital:
name: Luanda
geographic coordinates: 8 50 S, 13 14 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
Government type: Republic; multiparty presidential regime.
Flag description:
Two equal horizontal bands of red (top) and black with a centered yellow emblem consisting of a five-pointed star within half a cogwheel crossed by a machete (in the style of a hammer and sickle); red represents liberty, black the African continent, the symbols characterize workers and peasants.
Independance: 11 November 1975 (from Portugal).
ECONOMY:
ECONOMY OVERVIEW:Angola's high growth rate in recent years was driven by high international prices for its oil. Angola became a member of OPEC in late 2006 and in late 2007 was assigned a production quota of 1.9 million barrels a day (bbl/day), somewhat less than the 2-2.5 million bbl/day Angola's government had wanted. Oil production and its supporting activities contribute about 85% of GDP. Diamond exports contribute an additional 5%. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil production supported growth averaging more than 15% per year from 2004 to 2008. A postwar reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction and agriculture as well. Much of the country's infrastructure is still damaged or undeveloped from the 27-year-long civil war. Land mines left from the war still mar the countryside, even though peace was established after the death of rebel leader Jonas SAVIMBI in February 2002. Since 2005, the government has used billions of dollars in credit lines from China, Brazil, Portugal, Germany, Spain, and the EU to rebuild Angola's public infrastructure. The global recession temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession led to a contraction in GDP in 2009, and many construction projects stopped because Luanda accrued $9 billion in arrears to foreign construction companies when government revenue fell in 2008 and 2009. Angola abandoned its currency peg in 2009, and in November 2009 signed onto an IMF Stand-By Arrangement loan of $1.4 billion to rebuild international reserves. Although consumer inflation declined from 325% in 2000 to under 14% in 2010, Luanda has been unable to reduce inflation below 10%. The Angolan kwanza depreciated again in mid 2010, which, along with higher oil prices, should boost economic growth in all sectors. Corruption, especially in the extractive sectors, also is a major challenge.
BACKGROUND:
Angola is rebuilding its country after the end of a 27-year civil war in 2002. Fighting between the Popular Movement for the Liberation of Angola (MPLA), led by Jose Eduardo DOS SANTOS, and the National Union for the Total Independence of Angola (UNITA), led by Jonas SAVIMBI, followed independence from Portugal in 1975. Peace seemed imminent in 1992 when Angola held national elections, but fighting picked up again by 1996. Up to 1.5 million lives may have been lost - and 4 million people displaced - in the quarter century of fighting. SAVIMBI's death in 2002 ended UNITA's insurgency and strengthened the MPLA's hold on power. President DOS SANTOS held legislative elections in September 2008 and, despite promising to hold presidential elections in 2009, has since pushed through a new constitution that calls for elections in 2012.
Area: total: 1,246,700 sq km
country comparison to the world: 23
land: 1,246,700 sq km
water: 0 sq km.
People:
population: 13,338,541 (July 2011 est.)
country comparison to the world: 70.
Major cities: LUANDA (capital) 4.511 million; Huambo 979,000 (2009).
Religion: Indigenous beliefs 47%, Roman Catholic 38%, Protestant 15% (1998 est.)
Languages: Portuguese (official), Bantu and other African languages.
Country name: conventional long form: Republic of Angola.
conventional short form: Angola.
local long form: Republica de Angola.
local short form: Angola.
former: People's Republic of Angola.
Capital:
name: Luanda
geographic coordinates: 8 50 S, 13 14 E
time difference: UTC+1 (6 hours ahead of Washington, DC during Standard Time)
Government type: Republic; multiparty presidential regime.
Flag description:
Two equal horizontal bands of red (top) and black with a centered yellow emblem consisting of a five-pointed star within half a cogwheel crossed by a machete (in the style of a hammer and sickle); red represents liberty, black the African continent, the symbols characterize workers and peasants.
Independance: 11 November 1975 (from Portugal).
ECONOMY:
ECONOMY OVERVIEW:Angola's high growth rate in recent years was driven by high international prices for its oil. Angola became a member of OPEC in late 2006 and in late 2007 was assigned a production quota of 1.9 million barrels a day (bbl/day), somewhat less than the 2-2.5 million bbl/day Angola's government had wanted. Oil production and its supporting activities contribute about 85% of GDP. Diamond exports contribute an additional 5%. Subsistence agriculture provides the main livelihood for most of the people, but half of the country's food is still imported. Increased oil production supported growth averaging more than 15% per year from 2004 to 2008. A postwar reconstruction boom and resettlement of displaced persons has led to high rates of growth in construction and agriculture as well. Much of the country's infrastructure is still damaged or undeveloped from the 27-year-long civil war. Land mines left from the war still mar the countryside, even though peace was established after the death of rebel leader Jonas SAVIMBI in February 2002. Since 2005, the government has used billions of dollars in credit lines from China, Brazil, Portugal, Germany, Spain, and the EU to rebuild Angola's public infrastructure. The global recession temporarily stalled economic growth. Lower prices for oil and diamonds during the global recession led to a contraction in GDP in 2009, and many construction projects stopped because Luanda accrued $9 billion in arrears to foreign construction companies when government revenue fell in 2008 and 2009. Angola abandoned its currency peg in 2009, and in November 2009 signed onto an IMF Stand-By Arrangement loan of $1.4 billion to rebuild international reserves. Although consumer inflation declined from 325% in 2000 to under 14% in 2010, Luanda has been unable to reduce inflation below 10%. The Angolan kwanza depreciated again in mid 2010, which, along with higher oil prices, should boost economic growth in all sectors. Corruption, especially in the extractive sectors, also is a major challenge.