Jan
22
Angolan Banks Appeal for Bailout as Oil Slump Crimps Liquidity
By-
Banks’ body calls on government to protect account holders
-
Dollars dry up as foreign-exchange earnings from crude plunge
Angolan banks are appealing to the government to help put together a bailout package to protect account holders as lenders reel from low oil prices that make up almost all of the nation’s foreign-exchange earnings.
Financial assistance could come from the administration of President Jose Eduardo dos Santos or be shared by all of the southwest African country’s 28 operational lenders, Amilcar Silva, chairman of the Association of Angolan Banks, said in an interview in the capital, Luanda. He didn’t specify whether lenders were calling for a liquidity boost for the industry or cash injections aimed at struggling companies…
Angolan Banks Appeal for Bailout as Oil Slump Crimps Liquidity
