According to the presidential decree dated Wednesday, consulted by Lusa, the Minister of Finance is authorized to nominate the banks that will handle the operation of around 2.8 billion euros, but details about the deadlines.
The current debt in these sovereign debt securities is around 8 billion dollars (about € 7.4 billion), and is held mainly by European and North American investors, who look for high interest rates on Angolan bonds that compensate the lack of remuneration for Western bonds.
The interest rate required by investors to trade Angolan public debt with maturity in 2025 has risen 1.6 basis points since the beginning of March, to 23.52 percent, in a context of falling oil prices to historical levels and the spread of oil. new coronavirus, according to the financial information agency Bloomberg.
The price of a barrel of oil was trading at about 25 dollar a barrel this Thursday, less than half of the 55 dollars forecast in the budget for this year.
Angola's public debt has been rising steadily, not only due to debt issues, but also due to the depreciation of the kwanza last year, bringing the debt-to-GDP ratio to more than 100 percent at the end of last year.
