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With 189 member countries, staff from more 170 countries, and offices in over world bank forex reserves by country locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Group works in every major area of development. Data and research help us understand these challenges and set priorities, share knowledge of what works, and measure progress. The World Bank Group supports Angola’s efforts to reduce poverty and promote economic growth by working with the government, development partners and civil society. A vast country with a long coastline and central plateau, Angola thrusts inland across Southern Africa to border Namibia, Botswana, Zambia, and the Democratic Republic of the Congo.
Reduced revenues have caused GDP growth to decelerate from an annual average of 10. It has also adopted an expansionary fiscal policy to boost economic activity, pegged its currency, increased forex sales, and tightened liquidity to contain inflation. This contained a downward spiral in the short-term but failed to rein in macro imbalances. GDP by the end of 2016, is expected to increase in 2017. Oil production also fell by 5. Angola has external imbalances, including forex shortages, which have hurt the private sector, and rapidly declining reserves. Net international reserves have decreased by 20.
6 billion in August 2017, its lowest level since early 2011. The BNA’s monetary policy was successful at substantially decreasing money supply, which pushed interbank and open market rates higher, even though the benchmark rate has held steady since April 2016 at 16. Angola’s current economic crisis underscores its need to diversify its economy and reduce its dependency on oil revenues. This is partly because for years an overvalued exchange rate had undermined the competitiveness of agriculture and other non-oil sectors.
Infrastructure, skills weaknesses, and a challenging business climate remain constraints for private investment outside the oil sector. Word of the Year Our Word of the Year choice serves as a symbol of each year’s most meaningful events and lookup trends. It is an opportunity for us to reflect on the language and ideas that represented each year. So, take a stroll down memory lane to remember all of our past Word of the Year selections. The national debate can arguably be summarized by the question: In the past two years, has there been enough change? Meanwhile, many Americans continue to face change in their homes, bank accounts and jobs.
Only time will tell if the latest wave of change Americans voted for in the midterm elections will result in a negative or positive outcome. Tergiversate This rare word was chosen to represent 2011 because it described so much of the world around us. Privacy We got serious in 2013. Privacy was on everyone’s mind that year, from Edward Snowden’s reveal of Project PRISM to the arrival of Google Glass. Exposure Spoiler alert: Things don’t get less serious in 2014. Our Word of the Year was exposure, which highlighted the year’s Ebola virus outbreak, shocking acts of violence both abroad and in the US, and widespread theft of personal information. Identity Fluidity of identity was a huge theme in 2015.
Language around gender and sexual identity broadened, becoming more inclusive with additions to the dictionary like gender-fluid as well as the gender-neutral prefix Mx. Xenophobia In 2016, we selected xenophobia as our Word of the Year. 2016, from Brexit to President Donald Trump’s campaign rhetoric. Despite being chosen as the 2016 Word of the Year, xenophobia is not to be celebrated. Complicit The word complicit sprung up in conversations in 2017 about those who spoke out against powerful figures and institutions and about those who stayed silent. It was a year of real awakening to complicity in various sectors of society, from politics to pop culture.