Vera Daves, who commented on the impact of asset recovery carried out by judicial authorities on debt, during a press conference, said that the more it recovers, the more expenditure will be executed without the need for debt, but warned that the processes are not immediate.
The Minister of Finance mentioned the recent announcement by the Attorney General's Office (PGR), reporting the recovery of over US$5 billion, but pointed out that part of this amount corresponds to assets still with ongoing legal proceedings.
"This will only be reflected in the public accounts when the judicial situation is resolved and when the State is able to make effective use of these assets, affecting them to public institutions that are in leased facilities and are no longer making savings, or alienating and this is a recipe for the State," he stressed.
Vera Daves gave as an example of the application of recovered funds that allowed reducing exposure to indebtedness, the Integrated Plan for Intervention in Municipalities (PIIM), which is being financed with resources from a recovery action (through the Sovereign Fund of Angola) .
"We are talking about two billion dollars in which debt was no longer resorted to because these resources were available to the State. Now, the pace at which these resources are available depends on the way in which legal proceedings are handled. And later, when this heritage reverts to the State, this heritage must also be alienated", he observed.
At the end of last year, the Attorney General of the Republic (PGR) announced that the State has definitively recovered, in cash and assets, a total of approximately 5.3 billion dollars and that there are 1522 cases related to economic crime.
Among the assets recovered, estimated at US$2.6 billion, are housing, offices, buildings, factories, port terminals, shareholdings in companies, among others, the most popular case being that of businesswoman Isabel dos Santos.
The finance minister was speaking at a press conference on the occasion of the International Monetary Fund's (IMF) fifth review of the Extended Assistance (EFF) program.
Vera Daves also said that Angola does not plan to resort to indebtedness through a trip to the markets. "In our annual debt plan, it is not foreseen for Angola to go to the international markets to issue 'eurobonds' and in this way to finance itself", she underlined.
"Other ways are foreseen, [through] the domestic market, to issue Treasury bills, Treasury Bonds and even Treasury Bonds in foreign currency, but in the domestic market. In the relationship with the foreign market, we are essentially relying on disbursements guaranteed by multilateral organizations or projects with financing lines that had already been contracted," explained the responsible for the Finance folder.
