Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The unemployment rate rose again in the first quarter, to 32%, 0.2 percentage points (pp) higher than the Q4 2019;
The Ministry of Finance announced last week that it is in an advanced stage of negotiations with some of its oil importing partners to reschedule financing;
According to the 2019 BNA annual report , the assets of the banking system were valued at AOA 15.8 trillion (+22.2% yoy),with banks recording an overall loss of AOA -117.5 billion;
According to information on the BNA website, Net International Reserves fell to USD 10.3Bn in May, minus USD 662 million compared to April;
In international markets, Brent prices recovered, having closed the week at around USD 42 - the highest since the beginning of March.

Best regards,
BFA

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