In its financing attempts that brought the resource-rich country to become indefinitely indebted for a long time, the Government of Angola sought a US$15 billion loan from China (one of many) last May. Just as this latest round of financing commenced, Standard and Poors downgraded Angola’s sovereign credit rating to B- due to concerns about […]
New hope is blowing across the African continent against the backdrop of toppled heads of government and state in South Africa and Zimbabwe and a rejuvenated government that is pursuing ambitious reforms in Ethiopia. Other recent examples of transitions from long-sitting governments have also played out in Burkina Faso and The Gambia where the sitting […]
In an interview, the former Turkish President said, “What happened [the coup attempt] was a crime that will ultimately fail because Turkey is not an African country and is not located in Latin America.”
While the world focuses on the calls for partition by pro-Russian citizens in the south and east of Ukraine, similar calls from a small African nation are drawing less attention — despite horrific human rights abuses occurring on its territory. In what the U.N. human rights body and Amnesty International have called “ethnic-religious cleansing” between the […]
At the beginning of 2013, Forbes Magazine announced that the first female African had crossed the threshold into the status of billionaire. Isabel Dos Santos is the eldest daughter of Angolan President Jose Eduardo Dos Santos. Her wealth is composed of 28.8 percent shares in Zon Multimedia, the biggest cable TV operator in Portugal, making her the largest shareholder in the […]
Thursday, New York Times columnist Gail Collins spent significant time mocking New York City councilman Larry Seabrook, who is charged with doctoring a receipt for a bagel sandwich from $7 to $177. Most people around the country aren’t too surprised (but remain disgusted) by such behavior in politicians. Gail Collins should see what I see. […]
Russian President Dmitry Medvedev attempted to allay global fears that Moscow is trying to amass access to natural resources this week during a trip through Egypt, Nigeria, Namibia and Angola as he signed billion dollar energy deals providing Russia a greater foothold in Africa . In Angola, Medvedev emphasized that these resource contracts were important […]
The International Energy Agency is now wondering what we had discussed earlier in the week: OPEC’s discipline is fraying. The Agency believes that OPEC members are beginning to cheat because oil prices have risen from $32 earlier this year in part due to OPEC’s coordinated cuts. However, when prices are $60 a barrel, discipline is […]
OPEC reported a rise in output despite a pledge from the organization’s member to reduce production to meet quotas agreed to in December. Five members (Saudi Arabia, Kuwait, Iran, Nigeria and Angola) increased production over the past month by a total of 180,000 bbls/day, although Saudi Arabia remains within its quota of roughly 8 mln […]