Angola
IMF calls for settlement of overindulgent dos Santos-era loans

As the IMF starts the third review of its Angolan programme, João Lourenço's administration is working overtime to seek repayments on the state-owned bank BPC's bad credit, now all held with Recredit. [...]
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Angola
"Bad bank" Recredit gets generous Treasury funding but no change from its debtors

The Angolan authorities, who are keen to demonstrate that the era of easy loans for regime notables is over, have given a glowing account of the performance of bad loans management company Recredit. The latter's success is not what it seems, however: its balance sheet is largely funded by the state rather than by its debtors.

LogoSubscribers only Finance, Business 22.09.2020

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