Angola’s financial calendar is dense with policy meetings, data releases, sovereign-debt operations, and multilateral review cycles. Missing a single event – a Banco Nacional de Angola (BNA) rate decision, an inflation print, or an OPEC+ ministerial session – can mean reacting to price moves rather than anticipating them. The Calendario Economico consolidates every recurring and one-off event with material relevance to Angola’s economy and capital markets into a single forward-looking schedule.
BNA Monetary Policy Meetings
The Comite de Politica Monetaria (CPM) is the BNA’s rate-setting body. It convenes approximately eight times per year on a roughly six-week cycle, though the BNA reserves the right to call extraordinary sessions. Each CPM meeting culminates in a communique announcing the taxa basica de juro (policy rate), currently set at 17.5%, along with any changes to reserve requirements or standing-facility rates. Minutes are typically published two to three weeks after the meeting. The CPM schedule is the single most market-sensitive calendar item in Angola, as rate decisions directly influence the bond yield curve, interbank rates, and kwanza sentiment. The BNA publishes its annual meeting calendar in January; the research team tracks any amendments throughout the year.
Inflation Releases
The Instituto Nacional de Estatistica (INE) publishes the Indice de Precos ao Consumidor (CPI) on a monthly basis, typically within the third week of the following month. The headline annual rate stands at 15.7% year-on-year, with the monthly breakdown disaggregated by Luanda and national categories. Each CPI release is a key input to BNA rate-path expectations and feeds directly into the real-return calculations for fixed-income investors. The research team publishes a pre-release preview note estimating the likely print and a post-release analysis within 24 hours.
GDP and National Accounts
INE releases quarterly GDP data, though with a lag of approximately 90 days after the reference quarter. The annual GDP figure – most recently estimated at $115.2 billion – is published in the national accounts release, typically in the second quarter of the following year. GDP growth for 2025 is forecast at 1.9%. Quarterly figures are decomposed by sector (oil, agriculture, manufacturing, construction, services), enabling analysts to track diversification progress.
Budget Cycle
The Orcamento Geral do Estado (OGE, national budget) follows a structured annual cycle. The Ministry of Finance (Ministerio das Financas) typically submits the draft budget to the National Assembly in October, with parliamentary debate and approval in November or December. Monthly fiscal execution reports are published throughout the year, tracking revenue collection and expenditure against the approved envelope. Mid-year budget revisions – common when oil prices deviate significantly from the planning assumption – are flagged as supplementary calendar events. The budget section of the economy dashboard provides historical and current-year data.
Treasury Bond Auctions
The BNA conducts primary-market auctions for Obrigacoes do Tesouro de Taxa Nao Reajustavel (OTNR, fixed-rate treasury bonds) and Obrigacoes do Tesouro Indexadas (OTX, FX-indexed bonds) on a regular schedule, typically weekly or fortnightly depending on the government’s financing needs. The bond auction calendar provides the exact dates, tenors, and indicative volumes. Auction results – bid-to-cover ratios, weighted-average yields, and allotted amounts – are published by the BNA on the same day or the following business day.
OPEC+ Meetings
As a member of OPEC (though Angola announced its departure from the cartel effective January 2024, the country’s production and pricing remain deeply influenced by the alliance’s decisions), Angola’s oil revenue is sensitive to OPEC+ output policy. The OPEC+ Joint Ministerial Monitoring Committee (JMMC) meets monthly, with full ministerial conferences typically held twice per year (June and December). Extraordinary sessions can be called at short notice. Oil currently trades near $74.50 per barrel, and any OPEC+ production-cut extension or unwind directly affects Angola’s fiscal revenue and foreign-exchange supply.
IMF and World Bank Reviews
Angola engages with the International Monetary Fund through Article IV consultations, typically conducted annually, and through periodic staff visits. The IMF’s Article IV report provides an independent assessment of Angola’s economic policies and debt sustainability, often influencing sovereign-credit-rating decisions (currently S&P B-, Moody’s B3, Fitch B-). World Bank programme reviews and African Development Bank missions follow their own schedules but tend to cluster in the first and third quarters. Dates for multilateral missions are added to the calendar as they are announced.
Sovereign Rating Reviews
The three major agencies – S&P Global Ratings, Moody’s Investors Service, and Fitch Ratings – each maintain their own review calendars for Angola. S&P and Fitch typically publish scheduled reviews twice per year, while Moody’s reviews are annual with the possibility of interim actions. Unsolicited reviews can occur at any time in response to material events. The calendar flags known scheduled review windows and updates them as agency communications are released.
BODIVA Corporate Events
Earnings releases, annual general meetings, and dividend declarations for the five BODIVA-listed companies are tracked in the companion earnings calendar and dividend calendar. Key dates are also surfaced in the economic calendar when they coincide with broader market catalysts. BAI (last near Kz 100,500) and BFA (near Kz 118,000) are the most actively followed names, with their reporting dates attracting the highest market attention on BODIVA.
Regulatory Milestones
The Comissao do Mercado de Capitais (CMC) publishes regulatory circulars and consultation periods on an ad-hoc basis, but certain recurring events are predictable: the annual report publication (typically Q2), the licensing-renewal cycle, and any deadlines associated with FATF action-plan compliance. BNA avisos (regulatory notices) affecting banking or FX regulation are flagged as they enter public-consultation or effective-date windows.
How to Use This Calendar
The calendar is maintained in both list and timeline views. Each entry includes the event name, the publishing institution, the expected date (or date window), the prior-period value where applicable, and a market-impact rating (high, medium, or low) assigned by the research team. Subscribers can filter by event type, by asset class affected, or by date range. Email alerts can be configured to deliver reminders 48 hours and 24 hours before high-impact events. For the analytical context behind each event, cross-reference the Weekly Market Review and the Quarterly Outlook.