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Banking

Angola's de-dollarization drive

The country’s radical programme has put pressure on the banking sector, which in its short existence has relied heavily on the business brought in by foreign exchange. How can banks stay afloat with a lack of dollars in the system?

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A general view of Luanda, Angola's capital is seen in this picture taken May 15, 2015. A halving of oil prices last year has increased hardship in Angola, one of the world's most unequal countries, and stirred resentment towards President Eduardo dos Santos, the leader of Africa's second largest crude exporter for the last 36 years. Angola's government, which relies on oil sales for 95 percent of foreign exchange revenues, slashed a third off its budget after a glut in global production caused a halving of oil prices last year. Picture taken May 15, 2015. To match story ANGOLA-POLITICS/ REUTERS/Herculano Coroado - RTX1DQYA
© Stringer . / Reuters/REUTERS

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