Angola Weekly

Dear subscriber [name],

Here is this last week’s Angola Weekly.

Highlights:

Last week, the State began issuing short-term public debt, issuing AOA 3.5Bn in 364-day Treasury Bills, with a yield of 10.75%, a drop of 0.25 pp compared to the last issue in same maturity, 11%;
The new General Labor Law was approved by a large majority, with only 2 votes against, revoking the previous one that had been in force since 2015;
According to Jornal Expansão, banking profits fell to AOA 372.9 Bn (-11% yoy).
The Kwanza maintained its downward trend against the Dollar and the Euro, having ended the week depreciating by around 4.18% against the American currency and 3.64% against the European currency.

Best regards,
BFA

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