The information was released during a luncheon conference organised by the Media Rumo group, during which the Minister of Finance presented the main lines of fiscal consolidation of the State and the revised General State Budget (OGE).
"On the debt sustainability axis, we have been talking to our creditors, we have joined the debt service suspension initiative, still in formalization, we are also talking to the largest of our bilateral creditors [China]", highlighted Vera Daves, adding that the Government is "focused" on this objective and has already obtained some savings from these efforts.
"Our debt stock in dollars has been decreasing and we intend to continue following this path with responsible financing", said the head of the Finance Department.
Vera Daves indicated that the proposal of the Public Finance Sustainability Law, already presented in the National Assembly, is another instrument for this purpose.
The Public Finance Sustainability Law defines as the main instruments of public finance management the budget, the medium-term fiscal framework, the fiscal rules and the medium-term expenditure framework.
The law also proposes to create a framework that makes it possible to clearly establish elements such as the specification of the medium-term fiscal aggregate trajectory, a description of the annual and medium-term budgetary strategy for the achievement of the proposed fiscal objectives and the principle of periodic publication of a report.
The Secretary of State for Finance, Osvaldo João, admitted at the same meeting that the country has "a gap" of around 800 million dollars in the International Monetary Fund (IMF) plan, an amount to which it can have access.
"During the approval of the program, in 2018, we only obtained the financing of 3.7 billion dollars. This means that the disbursements that were being made until the second evaluation, took into account a total ceiling of US$3.7 billion, which means that we have a gap of around US$800 million that we can access whenever we want," Osvaldo João said.
