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Angolans Get Creative When the Dollars Dry Up

  • Hard currency shortage prompts investment in art, real estate
  • Kwanza devaluation new government’s only option, Moody’s says
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Desperate for hard currency, Angolans are coming up with new ways to convert their kwanzas into dollars and euros.

Filipe Afonso got tired of waiting in line at a bank to exchange his kwanzas for greenbacks. So he bought two second-hand BMW motorcycles, shipped them to Portugal and sold them for euros to pay for his family’s expenses back home.