Africa Monitor

Africa Monitor Intelligence

Angola: Kwanza Devaluation Trend Persists

The most recent performance of the oil market, with prices falling sharply since the beginning of SEP, in a situation of high volatility, could contribute to a cooling of the economy, but also to a lower inflow of revenue and foreign exchange, and therefore accentuate the fragility of the kwanza. In the financial sector, the context for the kwanza is assessed above all as tending to put pressure on a devaluation of the currency. An increase in public debt in USD could create difficulties in the financial management of the State, which have already been identified over the last few months. READ MORE