BFA - Angola Weekly

Dear subscriber [name],

Attached is the weekly report of the Angolan economy.


• Angola's public debt likely rose to close to 91.8% of GDP, an increase of 30 percentage points that was due exclusively to the effect of the loss of value of the Kwanza;
• The International Monetary Fund (IMF) concluded the first post-evaluation financing discussions with Angola and revised downwards the forecast for economic growth this year, from 3.5% to 0.9%;
• International reserves ended the month of August at close to USD 14.1 Bn, USD 305.5 million more than the previous month;
• Oil prices reached November 2022 highs, after Saudi Arabia and Russia announced a new extension of voluntary production cuts until the end of the year.

Best regards,

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