Angola’s interest payments to Chinese external creditors, mainly CDB and ICBC, doubled from USD 775 mln in Q1 2023 to USD 1.57 bln in Q2 2023, marking the highest increase since Q1 2012. This spike occurred as a three-year debt moratorium with Chinese creditors ended. Although the rising interest payments pose a concern, the deficit in service trade has fallen, partly offsetting the financial burden. Angola primarily depends on oil exports, making it vulnerable to price fluctuations. Debt relief mechanisms, such as the DSSI, have provided some respite.