Standard Bank places Angola among the five fragile countries in terms of debt

In an interview with the financial information agency Bloomberg, Jibran Qureishi pointed to Ghana, Kenya, Angola, Ethiopia and Zambia as the "five fragile countries" regarding the evolution of public debt.
"Angola was one of the main beneficiary countries of the G20 Debt Service Suspension Initiative (DSSI) during the pandemic, allowing the oil-producing nation to defer payment of almost US$3 billion last year", recalled the analyst. in the Bloomberg interview.

"With the end of the International Monetary Fund program, uncertainty about more talks regarding additional bilateral indebtedness and few investments in the oil sector that could slow down production, caution is needed", he argued.

Still, he concluded, "Angola has the potential to see further rating improvements later this year if things go well."

Jibran Qureishi's statements come just days after Standard & Poor's followed the example of Fitch Ratings and improved its opinion on the quality of Angola's sovereign credit to B-, and in the same week in which the debt plan was released. of Angola for this year, which provides for a reduction in the debt-to-GDP ratio, from 85 percent in 2021, to 73 percent this year and a return to the financial markets, with the issuance of bonds worth 2,800 million dollars.

In an interview with Bloomberg, Jibran Qureishi presented a report in which he argues that, among 18 African countries, there are five countries, the 'fragile five', which will face debt problems in the next two years due to the end of government stimulus given to combat pandemic, and the completion of debt relief offered to the poorest countries.

Standard Bank is a South African financial institution, the largest African bank by assets, and is headquartered in Johannesburg.