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Vol 39 No 14

Published 10th July 1998


Angola

Mortgaged future

A new deal with Swiss oil trader Glencore has mortgaged virtually the last barrel of the government’s own oil allocation in exchange for up-front payments of some US$900 million. News of the deal comes just as there has been a revival of attacks in the diamond-rich areas of Lunda Norte Province by the União Nacional para a Independência Total de Angola, loyal to Jonas Savimbi (AC Vol 39 No 12).

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