Ver Angola

Economy

Vera Daves: “We want the private sector to contribute to the growth of the economy, to create jobs for our young people”

The Finance Minister announced this Monday the Executive's intention to open up a closer relationship with all international investors and creditors, taking into account the macroeconomic reforms underway in the country.

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Vera Daves was speaking during an event of the financial information agency Reuters, which took place this Monday in digital format.

When asked about the possibility of the country resorting to a new Chinese loan, the holder of the portfolio of Finance highlighted the Angolan openness to other investment paths. "We are building a future (through our reform program) that prioritizes direct investment (not just with China, but with other partners). We want to add value to our economy by creating jobs. We want the money to stay. it is an option, but we are trying to change the way we relate to our partners ", said the minister, in a statement to which VerAngola had access.

The minister also said that this investment in direct investment puts the private sector in a more significant role, making the business environment more appealing. Vera Daves also highlighted the measures that have been taken by the Executive in the fight against corruption.

"We want the Angolan economy to grow due to private investment. It is not easy because we come from a model in which the oil sector is the most influential in the economy. But if we maintain this model, we will always have to deal with same consequences ", he said. "We want the private sector to contribute to the growth of the economy, to create jobs for our young people," said Vera Daves.

Regarding the IMF program implemented in the country, the minister said that she expects to see the result of the negotiations and the flexibility of the creditors, at the end of the three years negotiated, "a time that will allow us to prepare to start paying the debt".

Regarding Eurobonds, Vera Daves ruled out any approach to the revision of this debt profile. "We have no such intention. We are doing our best to make our creditors trust in our ability to pay and, furthermore, to prepare ourselves if a more severe possible shock strikes us."

However, without giving any dates, the Minister of Finance took on the work in progress to reduce the risk and cost of financing in the international market. "We have this strategy in the medium to long term. Something we have very well defined is that we want money in the long term and as cheap as possible. For now, the 'cheapest possible' is not easy, so we will continue to work, to ensure that we have an environment in which the risk of lending money to Angola is lower. And in the future, when the scenario changes, we will see how and when we can return ", he concluded.

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