Friday, 18 September, 2020

Chad ‘repaying $100m debt to Angola with cattle’

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Chad is a important exporter of livestock

Chad is repaying Angola a debt of $100m (£82m) with cattle, Angola’s point out-run newspaper has documented.

The strange arrangement is witnessed as creating a gain-gain scenario for each nations – Chad is small of income even though Angola demands cattle.

Additional than 1,000 cows arrived by ship in Angola’s money, Luanda, as the initial payment, Jornal de Angola described.

In whole, Angola would acquire 75,000 cattle above 10 decades, that means it has accepted payment of $1,333 per animal.

Chad would send out a even further 3,500 head of cattle later on this month, the report included.

Chad had proposed repaying the 2017 debt with cattle, and Angola had agreed due to the fact it would support the southern African point out rebuild its cattle inhabitants in drought-influenced locations, the state-operate day by day paper said.

Angola is generally strike by drought, triggering animals to die of starvation and thirst and leaving lots of villagers destitute.

Whilst oil wealthy, the country is nonetheless striving to get better from the legacy of a 27-12 months civil war that ravaged the place following independence.

Chad is described by the the Globe Well being Organisation of Animal Well being (OIE) as a “livestock farming nation par excellence”, with about 94 million head of cattle.

Livestock accounts for 30% of Chad’s exports, and is its major source of international exchange just after oil.

In a report final Oct, the Planet Financial institution claimed Chad’s financial system “stays fragile and vulnerable to sizeable hazard, these kinds of as oil selling price volatility and regional insecurity” prompted by militant Islamist groups running in the region.

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