Angola secured an agreement with the China Development Bank, which will release USD 150 to 200 mln monthly from a USD 1.5 bln escrow account. This arrangement helps Angola avoid immediate debt restructuring, as its debt repayments are projected to hit USD 10.1 bln in 2024. While this provides short-term fiscal relief, President Lourenco is also aiming to diversify Angola’s economy beyond oil, which may necessitate further fiscal consolidation to strengthen economic fundamentals over the long term.