Africa-Press – Angola. Angola’s national currency, the Kwanza, was the one that appreciated the most against the dollar since the beginning of the year, with a 20 percent gain, driven by the rise in oil prices, increased macroeconomic stability, monetary policy and an increase in the rating. ”.
According to the financial information agency Bloomberg, the kwanza has recovered 20 percent against the dollar since the beginning of the year, in a list in which the Russian ruble is in the last position, losing this 37 percent against the current value of the dollar.
The price of oil, despite the slowdown of the last few days in the rise in prices, almost doubled in value compared to last year, reaching 139 dollars already this month, which represents an appreciation of 28 percent since the beginning of the year, still that a barrel of oil is currently being traded at around 100 dollars.
Angola’s exports account for more than 90 percent of the country’s export earnings, and the Angolan economy is expected to grow 2.9 percent this year, after five years of economic recession.
In recent weeks, Angola has seen the credit opinion improved by the main financial rating agencies, following the end of the financial adjustment program of US$4.5 billion (almost €4.1 billion) with the Monetary Fund. International in December last year.
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