The unemployment rate in the United States of America (USA) rose to 3.9% in April, a tenth more than in the previous month and the economy created 175,000 new jobs, the Department of Labor reported. ob creation was below what was expected by economists, who pointed to 243,000 jobs and a far cry from the 315,000 in March. These data suggest that the Federal Reserve’s (Fed) restrictive monetary policy, with successive interest rate hikes until
Following President João Lourenço’s official visit to China in April, Angola has experienced a significant easing of its debt burden with the Asian nation. This agreement, lauded by Minister of State for Economic Coordination José de Lima Massano, has ushered in a period of financial stability and strategic fiscal management, offering various benefits to the Angolan economy. Immediate Financial Impacts The agreement swiftly bolstered Angola’s liquidity, freeing up resources that were previously earmarked for debt
In 2023, Angola recorded an increase of 11.7 percent in the prices of imported goods, with emphasis on food, while exported goods increased by 19.2 percent, driven by oil, indicates the Angolan National Statistics Institute (INE). According to the 2023 Yearbook of Price Indices for Export and Import Goods, the relevant increase stood out in the group of alcoholic beverages and tobacco, with 46.7 percent, chemicals, with 45.2, and products food, with 32.2. The increase
In March, Angolan oil production surged to 34,897,176 barrels, averaging 1,125,715 barrels per day (bpd), surpassing the projected 1,054,463 bpd, as revealed in the Monthly Summary on Oil Production released by ANPG. The report, accessible on the National Petroleum, Gas, and Biofuels Agency (ANPG) website, indicates that associated gas production for the same period reached 85,209 million cubic feet, with a daily average of 2,749 million cubic feet. Furthermore, the report outlines that 1,538 million
Trade between Angola and Indonesia rose from 190.6 million dollars in 2019 to 1,033 million in 2023, a growth of 84.95 percent in five years, announced last week in Luanda, the minister advisor for Economic Affairs of the Indonesian Embassy in Namibia. Sulthon Sjahril made these statements at the Angola/Indonesia Business Forum, adding that, in 2022 alone, Angolan exports of petroleum oils, oils obtained from bituminous minerals and crude amounted to US$837.63 million. That same
The United States Agency for International Development (USAID) has announced a $5 million investment in projects benefiting women along the Lobito Corridor, aiming to uplift communities and combat poverty. Samantha Power, the administrator of USAID, visited Benguela and Lobito to underscore the impact of ongoing programs in the region, particularly in agriculture, which are expected to alleviate hunger and poverty for thousands of people. She highlighted the expansion of the Women in Angolan Agriculture (WAF)
The Angolan Debt and Stock Exchange (BODIVA) registered, in the first quarter of 2024, 1.19 billion kwanzas in negotiations, in a bilateral and multilateral environment, according to the institution’s Dashboard. Data from Bodiva’s Monthly Report indicate that the Reporting Operations Market (MOR) registered greater movement, with a volume of 1.03 billion kwanzas. The value negotiated in the first three months of this year was above that recorded in the same period of 2023, which was
International Monetary Fund (IMF) economist Thibault Lemaire, who coordinated the report on sub-Saharan Africa, said that Angola’s growth in 2023 has been revised upwards, from 0.5% to 0.9% of Gross Domestic Product (GDP). “Angola’s real GDP growth last year was 0.9%,” said Thibault Lemaire, quoted by Lusa, adding that the slowdown compared to 2022 was motivated by the decline in oil production and prices. Asked about the difference between the 0.5% for 2023, presented in
The economist at the International Monetary Fund (IMF), who coordinated the report on sub-Saharan Africa, Thibault Lemaire, considered, this Monday, that Angola’s growth this year is supported by the non-oil sector and predicts high inflation. “The Angolan economy remained resilient last year; after recovery in 2021 and 2022, in 2023 it was hit hard by a decline in oil production and prices, coinciding with the end of the moratorium on debt payments, following of the
The Kwanza appreciated against the Euro, in the period from 7 to 21, 1.6 percent, reducing from 901.5 per note to 887.5, respectively. When compared to the intermediate week (the 14th), the appreciation of the Angolan currency is even greater, as on that date each Euro note cost 885.2 kwanzas. In relation to the US Dollar, the national currency lost slightly, rising from the previous 832.00 kwanzas to 833.00 kwanzas. In week 14, there was
