"With the price falling to around 30 dollars a barrel, pressure is building on oil and raw material producers, especially those in emerging markets, who will need to revise budgets in the coming months, more severely for those who have not taken sufficient preventive measures," write Oxford Economics analysts.
In a note analysing the effects of the fall in the price of oil in countries producing raw materials, sent to investors and to which Lusa had access, this consultancy places Mozambique and Angola as the most unprotected in the face of falling prices, in a list in which Iraq completes the podium.
"We identified three channels of weakness: dependence on oil and other raw materials in public finances, liquidity risks and sovereign risk of each country," reads the analysis, which puts Angola's public debt at 95 percent and Mozambique's at 108.8 percent at the end of last year.
"Several small economies, such as Mozambique, Angola and Bolivia are also ill-prepared to face budgetary and current account setbacks, and the first two are also exposed to a high share of short-term debt", the note also reads.
