hello petro, page-48

Good stuff Chalea

The bit that interests me is Angolas aversion to IMF/Chinese interests and how CVI is taking advantage of this which I intend to follow up:

According to credible media reports, in mid-February the Angolan government cancelled regular article IV consultations with the International Monetary Fund (IMF). This move is not unexpected, taking into account the Angolan government’s long-standing uneasiness with the IMF. Moreover, massively expanding oil revenues have made the Angolan government increasingly confident on the success of its “home-grown” economic reform policies. While Angola is currently negotiating the terms of its future OPEC membership, Chinese ventures into the oil sector in Angola have suffered a first setback, with Sonangol ousting Sinopec from the joint project to build the Lobito Refinery.