Presidential orders consulted by Lusa authorize the issuance of sovereign debt instruments on the Japanese market for a maximum amount of one billion dollars to finance the State Budget, continuing the "efforts to diversify the State's sources of financing" and the medium-term public debt strategy".
Finance Minister Vera Daves, who is responsible for contracting consultancy services and mandating the financial institutions that will carry out the issuance, had already announced in parliament that the executive was looking for opportunities in the Japanese market, after the submission of the Budget proposal for 2025.
According to Vera Daves de Sousa, for the next financial year the country plans to seek sources of financing that are "the cheapest possible and with the longest possible maturities" and with a grace period.
The 2025 State Budget proposal foresees revenues and expenses of 34.63 billion kwanzas, with a reference price of 70 dollars per barrel, estimating oil production of 1.098 million barrels/day.
Regarding the issuance of up to three billion dollars in Eurobonds, also integrated into the public debt strategy, the presidential order mentions that the global medium-term program for the "issuance of sovereign debt securities in a modality that guarantees speed and flexibility in the issuance of Eurobonds" (sovereign debt securities in foreign currency) has been updated.
Angola has already issued Eurobonds in 2015, 2018, 2019 and 2022, according to information available on the website of the Public Debt Management Unit of the Ministry of Finance.
More recently, in December 2024, Angola issued a new 1.5 billion dollars Eurobond to secure a 400 million dollars loan from JP Morgan.
