Africa-Press – Angola. Angola has recovered the $200 million in collateral it had to deposit with JPMorgan in April. The news was reported by Reuters, which received the information from the Angolan Ministry of Finance.
In a statement to the news agency, the Ministry of Finance stated that “the improvement in the price of Angola’s Eurobonds has a positive impact, allowing the amount paid in compliance with the margin call to be returned to the State. This repayment already occurred in May.”
In December of last year, Angola requested a one-year, $1 billion loan from JPMorgan in the form of a total return swap, backed by $1.9 billion in government bonds.
In early April, JPMorgan demanded additional guarantees from Angola, following the fall in oil prices driven by US President Donald Trump’s tariffs, which ultimately affected the value of the Angolan bonds provided as collateral.
According to Reuters, the price of collateral for the JPMorgan loan fell from 100 cents on the dollar in late March to a low of 86 cents during the sell-off in early April, when the margin call was triggered, before recovering to March levels.
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