Angola stands at a generational inflection point, where decades of oil dependence have left its public finances exposed to forces beyond its control. With petroleum production down nearly 40 percent since 2015 yet still financing most of the government's budget, the International Monetary Fund is urging Luanda to anchor its debt at 51 percent of GDP — a deliberate margin of safety below the legal ceiling — before the next commodity shock arrives. The deeper question Angola must answer is whether it can sustain the discipline required to reduce debt while still investing in the diversification