"Bad bank" Recredit gets generous Treasury funding but no change from its debtors

The Angolan authorities, who are keen to demonstrate that the era of easy loans for regime notables is over, have given a glowing account of the performance of bad loans management company Recredit. The latter's success is not what it seems, however: its balance sheet is largely funded by the state rather than by its debtors. [...] (307 words)
Issue dated 22/09/2020 Reading time 2 minutes
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