Moody's: Angola view positive

Moody's Investors Service said that Angola's B1 government ratings carry a positive outlook, reflecting the strong growth prospects and anticipated improvements in both the government's and the country's external debt metrics.

Angola's rapid growth has significantly expanded its economy over the past decade, due to the development of its sizeable oil reserves, the agency said.

These resources have allowed the government to fund an ambitious strategy to try to diversify the economic base beyond petroleum, but such efforts will take considerable time to bear fruit, Moody's said.

Given its relatively short post-war history, institutional capacity is still developing from a low level, the agency added.

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