Angola attempts to issue eurobonds

Apr 05, 2013, 5:24 PM EDT
A file photo taken on August 26, 2008 shows an Angolan walking in front of a giant peace dove in the center of Luanda.
AFP/Getty Images

The chance of Angola launching a debut Eurobond are better the third time round thanks to its booming oil economy and foreign hunger for African debt, reports Reuters. Previous attempts were doomed by the global financial crisis in 2009 and debt arrears in 2011. Africa's No.2 oil producer after Nigeria, plans to raise $1 billion through a Eurobond issue this year. Angola's economy expanded 7.4% in 2012 and this year's forecasts growth is set at  7.1%.