Thursday 8 December 2016

Arrived in Luanda, the most expensive city in the world



Arrived in Luanda, the capital of Angola

(November, 30)
It is fantastic to be in Luanda again. It has changed a lot. Not as busy, not as expensive as the last time..But it's still the most expensive city in the world. To rent a two bedroom apartment, you will pay on average an astonishing $ 6.800 per month. It surprised me, the prices had come down 'remarkably' not just property, but in supermarkets as well. How bad can things go? Angola is completely dependent on oil production. Sky high prices create difficult situations and people suffer from it. If you have something to celebrate, a nice cake cost you over $ 300 ! But these are just macro-economic figures and just by looking at them you can feel how bad it can be. Even when they are as huge and shocking as these. I have witnessed at first hand how people are being affected by the prices, lack of products and lack of variety. In fact, the lack of all problems in Angola is the lack of foreign currency. Angola's only source of USD is selling oil. And when the oilprices drop, Angola has less USD to buy things from outside, and the Kwanza is losing value. Keeping in mind that Angola's imports are 80% of its consumable goods.

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