rojects were completed in
2006. Angola also has large credit lines from Brazil, Portugal,
Germany, Spain, and the EU. The central bank in 2003 implemented an
exchange rate stabilization program using foreign exchange reserves
to buy kwanzas out of circulation. This policy became more
sustainable in 2005 because of strong oil export earnings; it has
significantly reduced inflation. Although consumer inflation
declined from 325% in 2000 to under 13% in 2007, the stabilization
policy has put pressure on international net liquidity. Angola
became a member of OPEC in late 2006 and in late 2007 was assigned a
production quota of 1.9 million barrels a day, somewhat less than
the 2-2.5 million bbl Angola's government had wanted. To fully take
advantage of its rich national resources - gold, diamonds, extensive
forests, Atlantic fisheries, and large oil deposits - Angola will
need to implement government reforms, increase transparency, and
reduce corruption. The government has rejected a formal IMF
monitored program, although it continues Article IV consultations
and ad hoc cooperation. Corruption, especially in the extractive
sectors, and the negative effects of large inflows of foreign
exchange, are major challenges facing Angola.

Anguilla
Anguilla has few natural resources, and the economy depends
heavily on luxury tourism, offshore banking, lobster fishing, and
remittances from emigrants. Increased activity in the tourism
industry has spurred the growth of the construction sector,
contributing to economic growth. Anguillan officials have put
substantial effort into developing the offshore financial sector,
which is small, but growing. In the medium term, prospects for the
economy will depend largely on the tourism sector and, therefore, on
revived income growth in the industrialized nations as well as on
favorable weather conditions.

Antarctica
Fishing off the coast and tourism, both based abroad,
account for Antarctica's limited economic activity. Antarctic
fisheries in 2005-06 (1 July-30 June) reported landing 128,081
metric tons (estimated fishing from the area covered by the
Convention on the Conservation of Antarctic Marine Living Resources
(CCAMLR), which extends slightly beyond the Antarctic Treaty area).
Unregulated fishing, particularly of Patagonian toothfish
(Dissostichus eleginoides), is a serious problem. The CCAMLR
determines the