Countries with the benefit of energy resources don’t have a great track record for benefitting the entire society. Angola is making an effort:
Oil wealth has also made Angola one of the world’s most unequal nations, and poverty remains rampant, especially in rural areas. Furthermore, the government seems to subsist from barrel to barrel, with little stashed away for a rainy day. When oil prices dropped amid the financial crisis in 2008, Angola was forced to ask the International Monetary Fund for help.
But the government’s bookkeeping is notoriously opaque. The monetary fund said this year that $32 billion spent by the state oil company, Sonangol, over several years, could not be accounted for. Anticorruption activists have long accused top government officials of enriching themselves while leaving the masses to struggle without clean water, decent housing and affordable health care.