General News
Portugal and Brazil to loan US$400 million to Angola
MacauHub
Portugal has committed itself with
the International Monetary Fund (IMF) to loan Angola US$200 million as
part of the US$2.35 billion loans set up by the IMF, Portuguese
newspaper Diário de Notícias, reported.
The paper said that it had confirmed the operation with Luanda and
Brasilia and added “it will require Portugal to get into increasingly
greater foreign debt, in a context of increasing interest rates, in
order to then loan the cash to Eduardo dos Santos´government.”
Citing the technical information of the IMF loan to Angola and
non-identified Angolan sources, Diário de Notícias said that Portugal
and Brazil had each committed to providing US$200 million.
The loan to Angola is aimed at helping Luanda to face up to the
country’s foreign deficit, as it is currently facing a crisis in its
balance of payments due to a significant drop in crude oil exports and
the price of oil at the end of 2008 and 2009.
Presented by Real Trade: 1/29/2010