Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Oil export from January through July 2020 fell by 3.7% yoy - on average, 1.34 million barrels per day were exported;
In the diamond sector, 3.6 million carats were exported between January and July, a reduction of 25.0% yoy;
In the economy as a whole, confidence declining sharply: the Economic Sentiment Indicator for Q2 2020 posted its lowest reading since Q2 2017, at -21 points;
Fitch agency lowered Angola's sovereign rating by two notches, to CCC, just one level above default;
Net International Reserves stood at USD 9.6Bn at the end of August, around USD 2.1Bn below December 2019.

Best regards,
BFA

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