Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The Angolan economy declined for the fourth year in a row in 2019, having dropped 0.9% last year, according to INE figures;
The IMF forecast, updated last week, points to a recession of 1.4%, and our expectation is of a more severe scenario;
Yearly inflation rose to 19.6% in March, the 5th consecutive month of increase and the highest value since May 2018;
According to data collected independently by OPEC, Angola produced around 1.40 million barrels per day (mbd) in March (-3.1% yoy);
On international markets, Brent is trading today at around USD 27, 3-4 USD below the levels of the previous week;
In the foreign exchange market, the Kwanza depreciated 0.3% against the Dollar and appreciated 0.18% against the Euro.

Best regards,
BFA

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