Angola's Chinese oil debt-trap - Axios

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Angola's Chinese oil debt-trap

Angolan President Jose Eduardo Dos Santos and Chinese President Xi Jinping in Beijing. Photo: Wang Zhao/AFP via Getty Images

Angola repays its $25 billion debt to Beijing with crude oil, creating a host of problems for its economy, reports Yinka Adegoke, Quartz's Africa editor, in his weekly brief.

Why it matters: That means Angola's ability to repay debt is dependent on the price of oil. And it leaves the country with lower volumes of oil to sell to other trading partners.