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Vol 2 (AAC) No 7

Published 1st May 2009


Angola

Oil, votes and Beijing

As Luanda tries to shore up its finances as export revenues tumble, China’s offer of credit becomes more important

The combination of lower world oil prices, tighter credit and production cuts has increased Luanda's reliance on its countertrade credits with China. As Angola holds the presidency of the Organisation of Petroleum Exporting Country, it will have to stick to the organisation's production cuts.

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