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The leaders of China and Angola pose for a photo at the Forum on China-Africa Cooperation (FOCAC) in Beijing in September 2018

Angola: The curse of being stuck between oil and debt

Africa’s second-largest oil producer had been going through a rough patch since the 2014 oil-price collapse – and then came the pandemic. The country’s prospects for post-Covid recovery are hampered by crippling foreign debt and lack of progress in economic diversification. However, Angola has an important edge in sub-Saharan Africa that helps it attract foreign investment. 

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