In a report issued today, the non-govermental organisation Human Rights Watch repeated absolutely unfounded accusations previously made in some international circles, claiming that US$4 billion of oil revenue disappeared from the state coffers between 1997 and 2000 It also repeats accusations of corruption, mismanagenaent and the govenmrent's purported insensitivity to the difficult social conditions still affecting many Angolan families.

The Government of the Republic of Angola publicly denounces the resumption of this campaign and wishes to inform national and international opinion that at no time has there been any independent audit proving these accusations further informs them that the diagnostic study of the oil industry has already been published and provides ample information on oil-related financial flows and, furthermore, that the Angolan fiscal accounts axe audited by the International Monetary Fund.

The Government of the Republic of Angola cannot be held responsible for estimates of its revenue based on non-credible sources and points out that no international financial institution has so far proved the accusations made against Angola- The shortcomings that still exist in its statistical system, which are moreover being overcome, and differences that can be seen in the accounting process of oil revenue, stemming from the conversion of the national currency into dollars, at a time when the national currency was affected by great instability and volatility, cannot be used as a pretext to launch defamatory campaigns based on sheer fantasy and imagination.

The Government of the Republic of Angola draws attention to the fact that

the time chosen for this crusade to smear the name of the Angola and its leaders is not fortuitous. The fact is that, domestically, the process of political stabilisation is being consolidated, with decisive progress being made in the peace and reconciliation process, as well as economic stabilisation, with favourable results in the fight against inflation, the increase in international reserves and the rehabilitation of economic and social facilities. Externally, the world is still enjoying from the good results of the positive Angolan Presidency in the Security Council of the UN and of the Southern Africa Community, SADC, as well as from the determining and decisive role of Angola still playing a positive role of Angola in the solution of regional conflicts.

It was indeed the political and economic improvements observed in 2003 that led to Angola joining the AGOA, the body through which the United States encourages good governance in Africa and promotes closer cooperation between the USA and Africa.

The Government of the Republic of Angola is still firmly determined to continue its programme of political and economic reforms and reaffirms its commitment to ensure strict observance of the principles of unity and universality in respect of its revenue and expenditure and to _ observe the greatest rigour, and transparency in its management of the public welfare.

Government of the Republic of Angola, Luanda, 13 January 2004