Angola plans to abandon the practice of providing oil as collateral for credit lines it received from other states, in particular from China. President Joao Lourenco stressed that the previously established system of settlements with China is outdated, and Angola intends to change it. "We want to stop this type of payment where we receive credit lines and the collateral is oil. We are going to stop using oil as the main collateral for the debts," he said.
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