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Vol 67 No 7

Published 3rd April 2026


Angola

Lourenço cashes in on the oil bonanza

The war in the Middle East has prompted Luanda to return to the Eurobond market

Less than six months after oil exporter Angola issued US$1.75 billion in Eurobonds to support its 2025 spending plans, Luanda has returned to the markets after the Iran war pushed oil prices to $100/barrel. Prices are set to remain elevated. The contrast with this time last year – when weak output and prices around $60/barrel raised concerns over Angola’s finances and forced it to post $200 million in collateral under a $1bn ‘total return swap’ with JPMorgan – is stark.

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