Angola — the largest exporter among the LDCs — had to take a $1.4-billion loan from the International Monetary Fund (IMF) in 2009 to stabilize its macroeconomic balance following the steep fall in oil prices after the outbreak of the international economic crisis. A new decline in prices reduced revenues from oil taxes from 23.8 per cent of GDP in 2014 to 15.4 per cent in 2015 (IMF, 2016b). Such taxes are implemented by most Governments because raising fuel taxes is easier than collecting income and other taxes, and fuel consumption is weakly price-elastic (Kojima, 2016).