Angola’s External Borrowing Grows to $2.4 Billion Amid Calls for Caution

• Recent loans target infrastructure, treasury support, and debt refinancing
• Analysts warn of risks to debt sustainability and foreign reserves

Angola has ramped up its reliance on international financing, securing $2.4 billion in loans between late 2024 and early 2025. Approved by President João Lourenço, these loans aim to fund critical infrastructure projects, bolster treasury reserves, and support economic recovery efforts. While these moves reflect Angola’s strategy to stabilise public finances and drive development, analysts caution that poor management could undermine debt sustainability and strain the country’s foreign reserves.