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‘Eurbonds’ and IMF may not offset oil revenue fall in Angola – Bloomberg

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Consulting firm Bloomberg Intelligence believes that IMF aid to Angola and debt issuance in the financial markets will help maintain international reserves but may not offset the loss of fiscal revenue from oil.

“The funds provided by the International Monetary Fund and the issuance of ‘eurobonds’ should help increase Angola’s foreign currency reserves this year but may not be enough to offset the loss of tax revenues due to lower oil, “analysts write in a statement released today by Bloomberg.

International reserves fell from $ 11.9 billion in November to $ 10.6 billion in December, “despite the availability of almost $ 1 billion by the IMF,” adds the note by analysts of Bloomberg.

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