Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The President João Lourenço declared, last Wednesday, State of Emergency for the whole country;
The rating agency Standard & Poor’s lowered the rating for Angola from B- to CCC+ last week;
Last Friday, the Ministry of Finance received authorisation from the Council of Ministers to initiate the review process of the 2020 State Budget (OGE);
Last Friday, the Central Bank held a Monetary Policy Committee meeting, deciding to keep the various monetary policy instruments unchanged;
In the foreign exchange market, there was a significant depreciation of the Kwanza again, having lost 3.4% against the Dollar, closing the week in USD/AOA 536.7;

Best regards,
BFA

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