Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Net International Reserves stood at USD 8.3bn in July, only around USD 30 million lower than in June;
According to BNA data and BFA calculations, imports have posted a real year-on-year increase of 27.1% in the 2nd quarter, when measured in Kwanzas;
The increase in imports is concentrated in non-food goods, as purchases of food abroad decreased by 15.4% yoy in real terms between April and June;
A USD 500 million Framework Financing Agreement between the State and Société Générale was approved;
The price of oil is currently facing a significant drop, close to 4.0% at midday Monday, with Brent trading around USD 68.

Best regards,
BFA

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