Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

In the 3rd quarter of 2021, the Economic Climate Indicator (ICE) recorded a quarterly improvement of 4 points to -2, the highest value since Q2 2015;
In November, the national annual inflation increased to 27%, the 8th consecutive month of increase and the highest value since July 2017;
We expect a first decline in year-on-year inflation in this month of December, and forecast that it will continue to decline during 2021;
Data collected independently by OPEC point to a reduction of 9.1% yoy in production in November, totaling 1.082 million barrels per day (mbd);
The Grupo Carrinho acquired 100% of the share capital of the Banco de Comércio e Indústria (BCI) through Angols' first stock auction held last Friday;
Between January and November this year, Angola exported around 8.8 million carats of diamonds, an increase of 17.9% over the same period last year.

Best regards,
BFA

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