Angola: Angola Hopes to Turn Steel into Gold as Oil Hammers Economy

Feb 28, 2016 | Dawn Kissi, CNBC
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Angola is about to provide a test case of whether diversification can help boost an economy that relies heavily on oil production The brutal global bear market in crude has forced a number of commodity-linked emerging markets to retrench economically, particularly in oil-rich Persian Gulf countries. Saudi Arabia and the United Arab Emirates for example, are weighing the imposition of new taxes to help plug exploding budget deficits —a solution backed by the International Monetary Fund just last week.