Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The IMF considers that the Kwanza might now be somewhat undervalued compared to an equilibrium rate, by anou 15%, pointing towards an equilibrium of USD/AOA 530;
According to the Finance Minister, Angola has exported 2.7 million carats in diamonds, from January through August this year, -34% yoy;
Tax authority data shows that a trade deficit remains on products like beans, onion, garlic, bottled water, carrot and tomato, which are included in the PRODESI programme and for which the Executive intends to restrict imports;
According to the Treasury Secretary, the Executive has raised AOA 64Bn (USD 102 million) already through the sale of 23 assets, since the beginning of the Privatization Programme;
Sonangol reported profits worth USD 125 million in 2019.

Best regards,
BFA

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