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Vol 51 No 10

Published 14th May 2010


Angola

Boom-bust all over again

China is offering another mega-loan and oil prices are rising again but Luanda’s short-term finances are fraught

Market reports that negotiations have stalled between the government and Goldman Sachs over a complex, US$250 million, dual currency (United States dollar and Angolan kwanza) loan facility point to the worsening short-term problems with Angola’s state finances. Banking sources link the negotiation problems to the government’s continuing postponement of its plans to float a $4 billion eurobond.

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