How do we avoid be­com­ing an An­gola?

Stabroek News - - STABROEK NEWS -

Dear Ed­i­tor, I have read the fol­low­ing in the Econ­o­mist and I am wor­ried; “An­gola is a coun­try where oil makes up over 95 per cent of ex­ports. Oil should bring wide­spread pros­per­ity to An­gola, but it does not. Brainy An­golans flock to the oil­fields rather than to the civil ser­vice or health care. Floods of for­eign cap­i­tal raise the value of the cur­rency, mak­ing non-oil in­dus­tries un­com­pet­i­tive. An­gola suf­fers from a “re­source curse “, in which plen­ti­ful nat­u­ral re­sources lead to worse eco­nomic growth.” How do we avoid be­com­ing an An­gola? Yours faith­fully, Ian McDon­ald

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