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The government had allocated 1.3 million kwanzas for the group, but that had not yet been paid.—John Eligon Gulshan Khan, New York Times, 12 Mar. 2023 And that’s the root of Angola’s fall in the rankings: in Jan. 2018, the government ditched its currency peg to the dollar and essentially devalued its local kwanza currency.—Yomi Kazeem, Quartz Africa, 9 Aug. 2019 Mr Lourenço has unpegged Angola’s currency, the kwanza, from the dollar, prompting it to fall by 27% since January.—The Economist, 3 May 2018 Angola’s Eurobonds have outperformed those of most other emerging markets in the past few months, thanks in part to reforms under new President Joao Lourenco, including a devaluation of the kwanza.—Bloomberg.com, 2 May 2018 João Lourenço, a former general who is favored to win Wednesday’s election, has promised to increase transparency as low oil prices have crippled government resources and the kwanza currency.—Patricia Kowsmann, WSJ, 22 Aug. 2017
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