Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

The financial rating agency Standard & Poor's (S&P) last week upgraded Angola's rating to B-, making for a recent improvement by the 3 main agencies.
Last Wednesday, OPEC+ members decided to maintain the plan to gradually increase oil production by 400,000 barrels a day for March.
In the foreign exchange market, the week was marked by a 1.3% appreciation of the Kwanza against the Dollar and a depreciation of -0.15% against the Euro, closing the week at USD/AOA 522.3 and EUR/AOA 589.8.
Last week, the Council of Ministers approved a 50% increase in the various national minimum wages, by sector.

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BFA

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