Bloomberg News

Angola’s Foreign Reserves Climb 9.1% to $20.3 Billion in May

June 20, 2011

June 20 (Bloomberg) -- Angola’s foreign-exchange reserves increased 9.1 percent in May to $20.3 billion, an official central bank document obtained by Bloomberg News showed.

Reserves rose from $18.6 billion in April, the document from the Luanda-based Banco Nacional de Angola, received today, said.

Reserves in Angola, sub-Saharan Africa’s second biggest oil producer, have been boosted by higher international oil prices. While crude oil fell to its lowest in four months in New York today, it has gained 10 percent over the past year.

--Editors: Gordon Bell, Antony Sguazzin

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Vivek Shankar at vshankar3@bloomberg.net


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