News & Analysis: Angola

The truth about Africa’s ‘debt problem’ with China

“As more African countries have looked to China for financing and technical support to rapidly boost infrastructural development, there have been loud musings about the scale of China’s lending to African countries as well as the Asian giant’s motives.”

via Quartz Africa

Impact of COVID-19: Health and community

“COVID-19 has upended healthcare systems and derailed non-COVID-19 related treatments. Facing this, traditional and religious leaders, as well as community health workers, are playing a pivotal role.”

via International Growth Centre

Africa slowly returns to business as usual

“Governments across the continent are beginning to shift responsibility for public health on to companies and individuals as they seek to restart their economies after months of disruption.”

via Control Risks Group

Angola: Confronting the COVID-19 Pandemic and the Oil Price Shock

“The government of Angola recently approved a prudent supplementary budget for 2020 using a conservative oil reference price. It has also introduced a comprehensive set of fiscal and monetary measures to support economic activities.”

via IMF

IMF Executive Board Completes the Third Review of Angola’s Extended Arrangement Under the Extended Fund Facility and Augments Disbursement to Address the Impact of COVID-19

“The Executive Board of the IMF today completed the third review of Angola’s economic program supported by an extended arrangement under the Extended Fund Facility. Completion of this review unlocks access to SDR 731.7 million (about US$1 billion), bringing total disbursements under the extended arrangement to SDR 1,804.7 million.”

via IMF

Africa’s catastrophic COVID-19 response

“As COVID-19 began to sweep across the planet earlier this year, countries on the African continent rushed to follow the lead of rich nations that were visibly struggling to cope with pandemic. Many closed borders, shut businesses and locked down citizens. Such actions won praise from global health bodies. Yet were blunt lockdowns really the right approach in Africa?”

via Unherd

Bondholders need to forgive some African sovereign debt

“A high risk of default has been priced into African bonds. The warning signs have been clear for everyone to see. The pandemic brought the day of reckoning forward.”

via Financial Times

External debt complicates Africa’s COVID-19 recovery

“For sub-Saharan African economies, interest repayments constitute the highest expenditure portion – and fastest-growing expenditure – of budgets.”

via Sierra Leone Telegraph

The promise of digitising cash transfers in sub-Saharan Africa during COVID-19 and beyond

“This year, the coronavirus pandemic has forced governments to grapple with difficult questions regarding lockdowns, contact tracing and the provision of emergency financial assistance to citizens now without work. In developing countries, these hardships are magnified with the World Bank estimating that remittances – money transfers sent from foreign workers to their home countries – to low and middle-income countries (LMICs) are projected to fall by 19.7 percent (from $554 billion in 2019 to $445 billion in 2020). Considering the significant role that remittances play in alleviating poverty and improving nutrition, many governments have turned to mobile cash transfers for vulnerable citizens to use while minimising COVID-19 exposure.”

via Africa Portal

China dithers on Africa debt forgiveness over ‘complex’ loans

“In June, President Xi said China would cancel interest-free debt owed by ‘relevant’ African countries as part of Beijing’s move to help the continent during the COVID-19 pandemic. But most of China’s debt is concessional or issued by private entities meaning the credit is harder to forgive.”

via The East African