Angola Banks Appeal for Bailout as Oil Slump Cuts Liquidity
LUANDA (Capital Markets in Africa) – Angolan banks are appealing to the government to help put together a bailout package to protect account holders as lenders reel from low oil prices that make up almost all of the nation’s foreign-exchange earnings. Financial assistance could come from the administration of President Jose Eduardo dos Santos or be shared by all of the southwest African country’s 28 operational lenders, Amilcar Silva, chairman of the Association of Angolan Banks, said in…
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