Angola - Glossary Index
Sources: The Library of Congress Country Studies; CIA World Factbook
GLOSSARY -- Angola
- Those Africans and mestiços (q.v.) considered by the colonial authorities to have met certain formal standards indicating that they had successfully absorbed (assimilated) the Portuguese language and culture. Individuals legally assigned to the status of assimilado assumed (in principle) the privileges and obligations of Portuguese citizens and escaped the burdens, e.g., that of forced labor, imposed on most Africans (indígenas--q.v.). The status of assimilado and its legal implications were formally abolished in 1961.
- barrels per day (bpd)
- Production of crude oil and petroleum products is frequently measured in barrels per day. A barrel is a volume measure of forty- two United States gallons. Conversion of barrels to metric tons depends on the density of the special product. About 7.3 barrels of average crude oil weigh one metric ton. Heavy products would be about seven barrels per metric ton. Light products, such as gasoline and kerosene, would average eight barrels per metric ton.
- Exiled convicts; refers to convicted criminals sent from Portugal to Angola. Degredados constituted a very substantial part of the Portuguese who came to Angola from the sixteenth century to the early twentieth century.
- fiscal year (FY)
- January 1 to December 31.
- gross domestic product (GDP)
- A value measure of the flow of domestic goods and services produced by an economy over a period of time, such as a year. Only output values of goods for final consumption and intermediate production are assumed to be included in final prices. GDP is sometimes aggregated and shown at market prices, meaning that indirect taxes and subsidies are included; when these have been eliminated, the result is GDP at factor cost. The word gross indicates that deductions for depreciation of physical assets have not been made. See also gross national product.
- gross national product (GNP)
- Gross domestic product (GDP--q.v.) plus the net income or loss stemming from transactions with foreign countries. GNP is the broadest measurement of the output of goods and services by an economy. It can be calculated at market prices, which include indirect taxes and subsidies. Because indirect taxes and subsidies are only transfer payments, GNP is often calculated at factor cost, removing indirect taxes and subsidies.
- An African or mestiço (q.v.) without assimilado (q.v.) status. In Portuguese terms, it means unassimilated or uncivilized. Before the abolition of the status (and the distinction between it and that of assimilado) in 1961, roughly 99 percent of all Africans were indígenas.
- International Monetary Fund (IMF)
- Established along with the World Bank (q.v.) in 1945, the IMF is a specialized agency affiliated with the United Nations and is responsible for stabilizing international exchange rates and payments. The main business of the IMF is the provision of loans to its members (including industrialized and developing countries) when they experience balance of payments difficulties. These loans frequently carry conditions that require substantial internal economic adjustments by the recipients, most of which are developing countries.
- Angolan currency unit that replaced the Angolan escudo after January 8, 1977. The kwanza, named for the Cuanza (Kwanza) River, consists of 100 lwei (lw), named for one of the river's tributaries. The kwanza was a nonconvertible currency, but exchange rates for authorized transactions were established regularly. In late 1988, US$1 officially equaled Kz29.3; reportedly, the kwanza traded on the parallel market for up to Kz2,100 per US$1.
- Lomé Convention
- An agreement between the European Community (EC) and the African, Caribbean, and Pacific (ACP) states whose provisions call for the EC to extend economic assistance to ACP countries. Much of the aid is for project development or rehabilitation, but a large portion is set aside for the Stabilization of Export Earnings (STABEX) system, designed to help developing countries withstand fluctuations in the prices of their agricultural exports.
- An individual of mixed white and African ancestry. Several varieties, depending on the nature and degree of mixture, were recognized by the Portuguese and mestiços in the colonial era. Before 1961 most mestiços had the status of assimilado (q.v).
- Paris Club
- A noninstitutional framework whereby developed nations that make loans or guarantee official or private export credits to lesser developed states meet to discuss borrowers' ability to repay debts. The organization, which met for the first time in 1956, has no formal or institutional existence and no fixed membership. Its secretariat is run by the French treasury, and it has a close relationship with the World Bank (q.v.), the International Monetary Fund (IMF--q.v.), and the United Nations Conference on Trade and Development.
- World Bank
- Informal name used to designate a group of three affiliated international institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), and the International Finance Corporation (IFC). The IBRD, established in 1945, has the primary purpose of providing loans to developing countries for productive projects. The IDA, a legally separate loan fund administered by the staff of the IBRD, was set up in 1960 to furnish credits to the poorest developing countries on much easier terms than those of conventional IBRD loans. The IFC, founded in 1956, supplements the activities of the IBRD through loans and assistance specifically designed to encourage the growth of productive private enterprises in the less developed countries. The president and certain senior officers of the IBRD hold the same positions in the IFC. The three institutions are owned by the governments of the nations that subscribe their capital. To participate in the World Bank group, member states must first belong to the International Monetary Fund (IMF--q.v.).
NOTE: The information regarding Angola on this page is re-published from The Library of Congress Country Studies and the CIA World Factbook. No claims are made regarding the accuracy of Angola Glossary information contained here. All suggestions for corrections of any errors about Angola Glossary should be addressed to the Library of Congress and the CIA.