Angola Revised Foreign Reserves Rise to $30.71 Billion in May

Angola’s net foreign-currency reserves rose to a revised $30.71 billion in May from $28.54 billion a month earlier, the country’s central bank said in a statement on its website today.

The Luanda-based Banco Nacional de Angola revised its foreign-currency reserve figures for May and April since Bloomberg News obtained a preliminary central bank document on its foreign reserves on June 18.

The foreign-currency reserves are at the highest since at least Dec. 2009, according to data published on the Banco Nacional de Angola’s website. Oil exports from Angola, Africa’s biggest producer after Nigeria, account for more than 90 percent of the country’s foreign-currency earnings, according to the World Bank.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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