Friday, October 26, 2007

Oil growth stokes Angola's boom


New oil finds have driven growth

The International Monetary Fund has predicted that Angola will achieve a 23% growth rate this year as new deep-water oil fields come on stream.

But the IMF criticises a continued lack of transparency in Angolan businesses.

It says no progress has been made towards publishing the accounts of the state oil and diamond companies.

Campaigners have previously identified a lack of transparency in state oil company Sonangol as allowing the large-scale funnelling off of funds.

No comments: