International Reserves in Angola
Angola - International ReservesStorm clouds have been gathering on the horizon in recent weeks in part due to the Covid-19 pandemic. Saudi Arabia and Russia continued their oil price war in early April, which flooded the market amid weakened global demand and dragged heavily on prices. Consequently, in April, Cabinda crude oil prices fell to an over two-decade low, while oil production fell to a five-month low. This should have weighed on exports at the start of the second quarter, and also increases the risk of default given the country’s large public debt and high reliance on oil revenues. Moreover, private consumption and business outlays are expected to have suffered amid continued kwanza depreciation—the currency was down 17.3% year-to-date on 22 May—stoking price pressures, and the government’s extension of the state of emergency until 25 May. However, some lockdown restrictions have now been eased, which should prop up activity somewhat.
Angola - International Reserves Data
|International Reserves (USD)||23.8||23.7||17.5||15.4||16.3|
5 years of economic forecasts for more than 30 economic indicators.
Angola International Reserves Chart
Source: Central Bank of Angola
|Exchange Rate||479.0||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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June 17, 2020
On average, Angola’s Cabinda crude oil sold at USD 27.9 per barrel (pb) in May, up from April’s over two-decade low of USD 14.1 pb.
June 15, 2020
Consumer prices in the province of Luanda increased 1.9% in May over the previous month, moderating from the 2.0% increase recorded in April.
May 20, 2020
The average price of Angola’s Cabinda crude plummeted to an over two-decade low of USD 14.1 per barrel (pb) in April, from March’s USD 33.1 pb.
May 12, 2020
Consumer prices increased 2.0% in April over the last month, picking up from the 1.7% rise logged in March.
May 7, 2020
The Monetary Policy Committee of the National Bank of Angola (BNA) moved forward its scheduled meeting by 20 days to 7 May.