International business briefs: Angola opens up, Exxon fined, EPA commendations, Hong Kong pollution, Australian wind concerns, Mexico and Australia in energy deal
Angola has become more open about how it uses its oil and mining revenues, and has made progress in talks with the IMF which are crucial to unblocking bilateral aid, according to Callisto Madavo, World Bank vice president for Africa while he was in Johannesburg for an African investment conference this week. The World Bank and the International Monetary Fund are helping Angola to shed light on revenues into the country, where a 27-year civil war ended in 2002. Angolan deputy prime minister Aguinaldo Jaime said last week that high oil prices had swollen state coffers by US$275 million in the first half of 2004.