Angola Pledges Help to Portugal With Financial Crisis

Posted November 17th, 2011 at 2:50 pm (UTC-5)
Leave a comment

Angola's President Jose Eduardo dos Santos says his country is ready to help former colonial power Portugal with its financial crisis.

Mr. dos Santos spoke to reporters Thursday after meeting in the Angolan capital, Luanda, with Portuguese Prime Minister Pedro Passos Coelho.

The Angolan economy has grown rapidly in recent years, boosted by oil exports, while Portugal is one of several European countries trying to overcome a major debt crisis. It received a $105 billion bailout from the European Union and International Monetary Fund back in April.

Among other measures, Portugal is looking to sell off state companies in an effort to raise revenue.

Angola won independence from Portugal in 1975.