Ver Angola


Angola anticipates payment of debt to major creditors

The country anticipated the payment of the debt to its biggest creditors. The increase in oil prices on international markets is helping Angola to anticipate this payment, a mechanism that will allow the country to have “more financial slack” next year.


The information was provided by the Minister of Finance, Vera Daves, who indicated that in December this year the agreements signed with creditors will expire and that it will have to "start paying the capital installments related to the financing", explaining that this anticipation aims to "take off some pressure" that should be felt next year.

"We have used this mechanism to remove some pressure that we will have to live in 2023. December 2022 ends the validity of these agreements, we will have to start paying capital installments related to the financing with these two banks", said the minister, quoted by the National Radio of Angola (RNA).

Vera Daves added that what they can "do to reduce the pressure on 2023" will give "more slack in 2023 to use in tax revenues that come from that year to finance the OGE, continue to bet on social, continue to bet on infrastructure, in capital expenditure".

"The main objective is to reduce the weight of public debt service in 2023, to have more space to spend in sectors such as education, health, (...)", she said, quoted by RNA.

The finance minister also mentioned that this is a strategy that they have already been "carrying out, which is to progressively make debt service lighter".

Cited by RNA, the minister admitted that "the entire country is in debt", but what they have tried to do is "seek cheaper solutions", and "it is in this logic of having space to breathe and liquidity in 2023 and in the years to come" that have "proactively managed" liabilities.

Speaking at the annual meetings of the World Bank (WB) and the International Monetary Fund (IMF), Vera Daves also took the opportunity to mention that the country's presence at the event made it possible to create contacts and outline the course of work for the next fiscal year. economy, as well as making it possible to identify and reassess the funding grant for the country, with the aim of streamlining the projects that are taking place in Angola.

According to Angop, the official also said that the Executive, in collaboration with the BM group, IMF and the African Development Bank, will continue the preparation of the National Development Plan and will establish acts that reinforce technical assistance, as well as how to negotiate funding for projects that meet the perspective of the National Development Plan 2023-2027.

It is recalled that the national delegation, headed by the Minister of Finance, participated in the event from 10 to 16 October, in Washington, in the United States of America.


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