Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

From January through September 2020, Angola posted a current account surplus of USD 0.3 billion, showing an anticipated deterioration compared to the USD 3.4Bn surplus in the same period last year;
International Reserves ended 2020 at USD 14.8Bn, a drop of USD 2.4Bn, indicating a similar deficit in the Balance of Payments, and a deficit in the financial account around USD 2-3Bn;
In the last few weeks, the LUIBOR overnight rate has dropped significantly - keeping with the 2020 trend - to 9.77% last Friday: lowest since 2015 and 19.1 percentage points below the end of 2019;
The BNA opened a 3-month foreign exchange line, to be settled on April 6 - the forward rate resulting from these sessions has appreciated, from USD/AOA 679.8 on January 5 to USD/AOA 672.7 on Friday;
In the oil market, Brent peaked last week on February 2020 highs, trading above USD 55.

Best regards,
BFA

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