Angola’s kwanza traded for dollars on the street, not in banks

Corruption is a big problem in Angola, and one result is an economy in crisis. One result of this is that currently (October 2017), kwanzas are being traded for US dollars on the street, but aren’t available in the banks (where if they were available, you’d get a better deal that you do on the street). Another interesting fact regarding Angola’s economy: Angola is an oil-producing nation that needs to import gasoline!

Learn more about Angola’s economy by going to this link: http://www.npr.org/2017/10/17/558252004/foreign-currency-crisis-tells-the-story-of-angolas-economic-peril

 

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