Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Moody's agency updated Angola's sovereign debt rating last week, downgrading it to Caa1 - at the same level as S&P, just one notch above Fitch's evaluation;
The Angolan SOE agency (Igape) announced that stateowned enterprises posted operating income amounting to AOA 211.7 billion in 2019 (-55.3% yoy);
In the first 8 months of the year, the Investment and Export Promotion Agency (AIPEX) registered a total of 306 proposals and investments valued at USD 2.9 Bn, which are expected to result in the creation of 20,307 jobs;
Between January and August 2020, BNA sold USD 3.4 Bn in foreign currency to retail banks (-41.9% yoy);
Monthly inflation stood at 1.83% in August, thus bringing yearly inflation towards 23.4%, the highest level since December 2017.

Best regards,
BFA

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