Chad ‘repaying $100m debt to Angola with cattle’
Chad is repaying Angola a debt of $100m (£82m) with cattle, Angola’s state-run newspaper has reported.
The uncommon settlement is seen as making a win-win scenario for each nations – Chad is wanting money whereas Angola wants cattle.
More than 1,000 cows arrived by ship in Angola’s capital, Luanda, as the primary cost, Jornal de Angola reported.
In whole, Angola would obtain 75,000 cattle over 10 years, that means it has accepted cost of $1,333 per animal.
Chad would ship an additional 3,500 head of cattle later this month, the report added.
Chad had proposed repaying the 2017 debt with cattle, and Angola had agreed as a result of it could assist the southern African state rebuild its cattle inhabitants in drought-affected areas, the state-run day by day paper mentioned.
Angola is commonly hit by drought, inflicting animals to die of starvation and thirst and leaving many villagers destitute.
Although oil wealthy, the nation continues to be striving to recuperate from the legacy of a 27-year civil conflict that ravaged the nation after independence.
Chad is described by the the World Health Organisation of Animal Health (OIE) as a “livestock farming country par excellence”, with about 94 million head of cattle.
Livestock accounts for 30% of Chad’s exports, and is its foremost supply of international change after oil.
In a report final October, the World Bank mentioned Chad’s economy “remains fragile and weak to appreciable danger, resembling oil worth volatility and regional insecurity” brought on by militant Islamist teams working within the area.