Promotion of Democracy in Angola Act of 1989

Promotion of Democracy in Angola Act of 1989 - Prohibits the United States or any U.S. person from making a loan or other extension of credit to Angola or to any organization owned or controlled by Angola. Exempts loans or credits for which an agreement is entered into before enactment of this Act.

Directs the President, 90 days after enactment of this Act, to issue regulations prohibiting any U.S. person from making any investment in Angola. Exempts: (1) certain loans and extensions of credit; (2) investments of earnings from a business in Angola established before enactment of this Act which are made in that business; and (3) the purchase on a registered national securities exchange of securities in such a business.

Amends the Foreign Assistance Act of 1961 to add Angola to the list of communist countries which may not receive assistance under such Act.

Prohibits imports from, and exports to, Angola, except for exports of international disaster relief assistance.

Directs the President to provide for enforcement of this Act. Imposes penalties for violations of this Act.

Requires the provisions of this Act to terminate if the President certifies to the Congress that Angola: (1) is making a concerted and significant effort to comply with internationally recognized human rights; (2) has entered into discussions with its non-communist opposition; (3) has established certain laws; (4) has held free and fair elections by November 1, 1988; and (5) all troops from communist countries have withdrawn from Angola.