Angola

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 made a presidential poll contingent on the drafting of a new constitution.

Economical characteristics

 * Currency: Kwanza (ISO code: AOA)
 * Central bank discount rate: 19.57% (31 December 2008)
 * Commercial banks lending rate: 12.53% (31 December 2008)
 * Stock of money (M1): $8.446 billion (31 December 2008)
 * Quasi money (with M1 makes M2): $10.41 billion (31 December 2008)

Notable events:

 * Banking crisis: 1992-1996
 * Hyperinflation: 1993-1996
 * Years in inflation: 60% (share of years 1975-2009 with annual inflation above 20 per cent per annum)
 * Public default: 1985-2003 (external), 1976, 1992-2002 (domestic)

Links

 * Angola on Wikipedia
 * Central bank of Angola
 * Country profile (pdf) from the Enterprise Studies page (part of the The World Bank Group)
 * Studies from the Library of Congress (1986-1998)
 * BBC country profile