No deal for Angola

LUANDA: Angola’s central bank raised its benchmark interest rate by 200 basis points to 16 percent after the government in Africa’s biggest oil producer broke off talks with the IMF over a possible financial rescue package.

Angola has been hit hard by the slump in global crude prices, and the kwanza has shed more than 40 percent against the dollar over the past two years, fuelling inflation that hit nearly 30 percent in May.