João Lourenço’s reforms in Angola are pleasing the IMF

JOSÉ EDUARDO DOS SANTOSMPLA ruled Angola for 38 years. During his presidency Angola fought an on-off civil war that ended in 2002, just as an oil boom was starting. As the price of black gold soared, Luanda, the capital, became one of the world’s most expensive cities, a place where developers imported palm trees from Miami and melons cost $100 each. Though most of the country lives on less than $2 per day, bigwigs in the ruling party, the , stashed billions of dollars abroad.By the time João Lourenço took over in 2017, the oil boom was over. The former defence minister pledged to clean house and overhaul the economy. The Angolan leader can point to some successes. But prolonged hardship and public scepticism about his anti-graft efforts are raising doubts about his ability to reform one of sub-Saharan Africa’s largest economies.