Angola is prepared to help its former colonial power Portugal cope with its financial crisis

Angola’s President Eduardo Dos Santos offers help to Portugal

Angola, which is recovering from a long brutal civil war which ended in 2002, gained independence from Portugal in 1975.

BBC News

Angola is prepared to help its former colonial power Portugal cope with its financial crisis, the oil-rich nation’s President Jose Eduardo Dos Santos said.

After meeting visiting Portuguese Prime Minister Pedro Passos Coelho, he said solutions needed to be found.

They should be “advantageous for both countries” and “in a spirit of solidarity and mutual help”, he said.

Analysts say Portugal’s economy is expected to contract by 2.8% next year and Angola’s to grow by 12%.

‘Trump cards’
 
The IMF has agreed to give Portugal a $107bn bailout on condition that it introduces a wide range of economic reforms – including privatisation.

Analysts say Angola could buy stakes in some of the privatised companies.

Angola’s investments in Portugal have risen sharply in recent years.

http://www.bbc.co.uk/news/world-africa-15790127