Moody's Investors Service has today downgraded the long-term issuer and senior unsecured debt ratings of the Government of Angola to B1 from Ba2 and assigned a negative outlook. The short-term issuer ratings have been affirmed at Not-Prime (NP).

Angola’s inflation in March rose to 23.6% year-on-year from 20.3% in February.

Angola's central bank raised its key interest rates by 200 basis points, citing accelerating inflation from higher administered prices and the depreciation of the kwanza's exchange rate.

Moody's Investors Service has today placed the Government of Angola's Ba2 government bond and issuer ratings on review for downgrade.