ANGOLA: FIVE YEARS OF RECESSION SPIKE DEFAULT RISKS

   Tue, 28 April 2020

The government is proceeding with state asset sell-offs, and even foresees a Eurobond issuance despite skyrocketing yields, to plug a gap in its finances as the country steers into a fifth year of recession. Rising debt servicing costs, a devaluing currency, and fast-depleting foreign reserves indicate that Angola may join a wave of anticipated sovereign defaults this year.

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