Angola - People's Republic

The People's Republic of Angola was a socialist state that existed in Angola from 1975 to 1992. It was formed after independence from Portuguese colonial rule and was a close ally of the Soviet Union and Cuba during the Cold War. However, the country soon became embroiled in a long and bloody civil war, involving various political forces and foreign powers. Following the Portuguese Clove Revolution of 1974, Angola gained its independence in 1975. However, fierce fighting broke out between the three main independence movements – the Popular Liberation Movement of Angola (MPLA), the National Union for Total Independence (UNITA) and the National Liberation Front (FNLA) – for control of the country. The MPLA, supported by the Soviet Union and Cuba, eventually came to power and proclaimed the People's Republic of Angola. However, UNITA, supported by the United States and South Africa, did not give up the fight and waged a guerrilla war against the MPLA in most of the country. The civil war lasted for decades and caused immense destruction in Angola. Hundreds of thousands of people died in the fighting, millions were forced to flee their homes, and the country's economy was destroyed. After the MPLA came to power, it began to build a socialist system in Angola. The government nationalized large enterprises, introduced the collective farm system, and developed close relations with the Soviet Union and other socialist countries. However, the socialist system in the country was never fully consolidated and faced many problems. Corruption, bureaucracy and economic difficulties undermined the legitimacy of the system. After the end of the Cold War and the collapse of the Soviet Union, the international situation changed, and the Angolan Civil War entered a new phase. In 1991, the MPLA and UNITA signed an agreement on peace and democratic elections. In the 1992 elections, the MPLA won, but UNITA did not admit defeat, and fighting broke out again. Finally, in 2002, a definitive peace was achieved in Angola. The country has embarked on a long journey towards recovery, but the consequences of the civil war are still felt today.

1975-1992. During the existence of the People's Republic of Angola, a number of currency reforms and financial changes took place. This shows a complex and constantly changing picture due to the extremely unstable political and economic situation. After gaining independence in 1975, Angola entered a long and bloody civil war, which significantly affected the financial system. Due to the constant conflict, economic sanctions and inflation, the value of money fluctuated constantly, and the coinage changed accordingly. New currencies were introduced in the country several times. In the war situation, money primarily served military expenses, and the civilian economy played a secondary role. got Due to constant money printing and economic uncertainty, inflation was extremely high. During the war, counterfeiting also spread, which further worsened the stability of money. During the war, money from other countries was often in circulation.