BFA - Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

In 2023, Angola's economic activity grew by just 0.9%, (-2.1pp compared to the previous year).
Angola agreed a loan of USD 500 million with Standard Bank of South Africa for treasury needs. According to data from the Ministry of Finance, in Q4 2023 Angolan public debt stood at AOA 55.1 Trillions, a historic maximum, but which is also influenced by the depreciation of the national currency (affecting the value of public debt abroad when measured in Kwanzas) and high inflation. When we evaluate in Dollars, public debt decreased in Q4 2023 compared to the previous quarter, standing at USD 66.4B.
The price of a barrel of Brent oil has been growing and reached five-month highs last week.

Best regards,
BFA

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