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Angola Suspends Its Efforts to Seek More Foreign Loans, Expansao Reports

Angola has suspended efforts to get more foreign loans, so that the government can assess their benefit to the country’s development, Expansao said, citing an unidentified official.

Angola, which vies with Nigeria as Africa’s biggest oil producer, determined that previous loans, including $4.5 billion from China, haven’t had the results that were expected, the Luanda-based weekly newspaper said today.

To contact the reporter on this story: Candido Mendes in Luanda at cmendes6bloomberg.net.

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