Jump to navigation

Angola

Angola

Population: 22.14 mn.
GDP: 131.40 bn.
Debt: 24 bn.
Overview:

President José Eduardo dos Santos's government will scramble to cut budgets as receipts from oil sales plummet after the world price crash, putting pressure on social spending and big development projects. The fate of Vice-President Manuel Vicente will signal succession plans ahead of the 2017 elections.

news from Angola

Category: all

Found 224 articles.

Displaying 1-10 out of 224 results.

Oil fuels Luanda panic

The crash in the price of crude oil may not have worked through the economy yet but it has already trashed all spending plans

'Angola has seen nothing yet,' is a common comment in Luanda business circles about the impact of the oil price crash on the country. The government is seeking to plug financial ga...


Good banks from bad

The authorities have created a new lender out of the ashes of BESA but mystery surrounds the state’s exposure – and the identity of the new bank's shareholders

The central bank, the Banco Nacional de Angola (BNA) has come to the rescue of the country's second-largest bank, the Banco Espírito Santo Angola. BESA went into administrat...


Changing faces

It looks as if the one-time external security boss, General Fernando Garcia Miala, is being groomed for a key role in the Palace. Sacked in 2006 from the Serviços de Intelig...


Toxic loan fears grow

The reported bail-out of a major bank risks destabilising the financial sector and affecting the country’s sovereign rating

A huge state guarantee to a major local bank is causing concern about corporate governance and has the potential to destabilise the economy. The state has set aside up to US$5.7 bi...


Alarm as oil production falls

Falling output is affecting the economy but it’s unlikely to change the habits of the elite

The policy of 'de-dollarising' the economy has gained unexpected momentum as a dip in oil production reduces the availability of the US dollar. The budget and much-needed infrastru...


Kinshasa challenges Luanda

In a row that could affect the oil industry, Congo-Kinshasa is again raising the temperature over maritime rights which Angola disputes

A long-simmering dispute about rights to the sea has worsened. Last year, Angola submitted a map to the United Nations Commission on the Limits of the Continental Shelf which recog...


Dos Santos turns the page

The lavish reception for President José Eduardo dos Santos at the Elysée Palace on 29 April promoted France's growing investments in Africa's third biggest economy an...


Statoil on the spot

Norway’s biggest parastatal comes under scrutiny over business partners whose reputation for probity is far from the Scandinavian image

The bearer of Norway's reputation for high principles in international business, Statoil, is now on the defensive after revelations in the local media about the shady backgrounds o...


The MPLA sticks to its course

Secretive and fearful of change, the ruling circle sees no reason to rock the boat with reforms. New major projects are likely to suffer delay

Whether or not the speculation about President José Eduardo dos Santos being in poor health turns out to be correct, 2014 could be the year that his successor is named. His ...


Displaying 1-10 out of 224 results.