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Dr Ricardo Soares de Oliveira writes on an approaching 'perfect storm' for Angola

Dr Ricardo Soares de Oliveira writes on an approaching 'perfect storm' for Angola

Ricardo Soares de Oliveira has written an article for Foreign Affairs online (28 October) about how the recent drop in the price of oil might affect the state of Angola, a country that has been reliant on oil for revenue but perhaps hasn't used the proceeds to diversify its economy as much as it could.


Ricardo writes, "What a difference a year can make. Since June 2014, oil prices have plummeted nearly 60 percent, and the dos Santos regime, which is highly dependent on extraction, is now struggling to pay the bills, continue its infrastructure spending, and buy off key constituencies. Beneath the surface, many of these challenges were already developing during Angola’s boom years."

The full article is available (behind a paywall) here: https://www.foreignaffairs.com/articles/angola/2015-10-28/angolas-perfect-storm