Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

• Net International Reserves (NIR) closed the month of February at USD 10.3 billion (bn), representing an increase of 18.6% over the same period last year.
• According to statements by Finance Minister Vera Daves de Sousa to the members of parliament, last Thursday, Angola is repaying larger amounts of its debt to Chinese entities due to the increase in the price of oil.
• The price of oil has risen quite significantly, with Brent trading above USD 120 for almost a week.
• The Government expects to complete the process of joining the Extractive Industries Transparency Initiative (EITI) this month.
• In the foreign exchange market, the week was marked by a 4.54% appreciation of the Kwanza against the Dollar and 6.16% against the Euro, closing the week at USD/AOA 475.0 and EUR/AOA 524.4.
• In January, an amount of AOA 122.1bn was traded on BODIVA, representing an increase of 58.8% compared to December 2021.

Best regards,
BFA

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