Angola Said to Plan $25 Billion Borrowing to Fund Budget Gap
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Angola plans to borrow $25 billion this year as the drop in oil prices threatens to swell the southwest African nation’s budget deficit, government documents show.
The country’s central bank is seeking to raise $15 billion selling Treasury bills and bonds, with the balance to be funded by foreign debt, according to a Finance Ministry proposal obtained by Bloomberg News. Repeated calls for comment to the ministry’s spokesman, Amilcar Xavier, weren’t returned.