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Home Africa

Angola will be the second country in Africa to issue most debt in 2018

FurtherAfrica by FurtherAfrica
February 28, 2018
in Africa, Angola, Credit Rating, Economy, Finance
Reading Time: 1 min read
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Angola will be the second country in Africa to issue most debt in 2018
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In 2018 Angola will be the sub-Saharan African country to issue the second-largest amount of public debt, with a total of US$15.9 billion, exceeded only by South Africa, which will take on another US$18.7 billion in debt, according to credit rating agency Standard & Poor’s (S&P).

The report on the debt levels of African countries said that the amount of debt to be issued by Angola is an increase of 26.5% over the amount recorded in 2017 and is the highest since 2014 when the country went to the markets to raise US$17.3 billion.

The report on the 17 countries the agency rates in that region of the world shows that these countries will increase their debt levels by another US$57 billion this year.

This is an increase of 7.4% compared to the US$53 billion in debt issued last year and proves that the commodity price crisis, which began in 2014, continues to have a strong effect on these natural resource-dependent economies to balance their budgets.

For the whole of Africa, S&P expects commercial debt to reach US$392 billion by the end of this year and total debt to rise to US$514 billion.

Source: Macauhub

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Tags: AngolaFeatureS&Psovereign debtStandard & Poorアンゴラ安哥拉
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