Angola: rinascita di una potenza africana

No. 37 – February 2015
Author: Pietro Panarello
Cartography: Gustavo Ferrara
Language: Italian
Natural resources
African Renaissance
Foreign Direct Investments

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Twelve years after the end of the civil war, Angola seems to have carried out its reconstruction while going through an unprecedented economic growth. Once a symbol of the Cold War’s last stage, this country is now taking part in the African Renaissance, thanks to its natural resources’ exports. Revenues from oil and high GDP growth rates are attracting Foreign Direct Investments over the last few years. At the same time, Angola government is investing abroad by using its sovereign funds and buying foreign assets, as well as trying to reduce poverty and struggling to improve living conditions. Despite limitations of Angola’s development, the country shows to possess the potential to assume a leading role on the continental economic scenario of the near future. Moreover, the success of the national reconciliation process has ensured political stability that is a matter of further attraction for investors. International relations with not-European superpowers  – US, Russia, China and India – have helped Angola’s recovery over the last twenty years. Close relations with Beijing are related to the willingness of the President dos Santos to escape from the rigid framework of the Washington Consensus, advocated by the IMF and World Bank. At the same time, even Moscow relations have blossomed in recent years for the common interests in the energy field and for arms importations from Russia. Italy has been cultivating strong ties to Luanda since 1970s and aims at strengthen bilateral trade in the next future. Angola is also an important actor for Expo 2015, in which the country will be represented by the largest national pavilion of the African continent.