BFA - Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

In Q1 2024, the Economic Climate Indicator (ECI) recorded a positive advance compared to the previous quarter, signaling a relatively good performance of the Angolan economy in that period;
The monetary base (M0) in local currency, in May, stood at AOA 2.2 trillion (T), an expansion of around 42.2% when compared to the same period last year;
Sonangol and Chevron last week signed contracts for oil exploration in the Lower Congo;
Fitch maintained Angola's rating at B-, also keeping the outlook stable.

Best regards,
BFA

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