Ver Angola


Angola spent this year 3.5 billion kwanzas on internal and external debt service

Angola has already spent 3.5 billion kwanzas this year servicing the country's internal and external debt, said the director of the Debt Management Unit of the Ministry of Finance this Monday.


Dorivaldo Texeira said, speaking to Rádio Nacional de Angola, that Angola's main creditors, in terms of relevance, are the domestic market and China, with a combined weight of around 60 percent of the debt.

Of the amount already spent this year on debt service, 1.8 billion kwanzas went to domestic debt and 1.7 billion kwanzas to external debt.

"The Angolan debt is around 70 billion dollars, equivalent in kwanzas", recalled Dorivaldo Teixeira.

Regarding Angola's debt with China, the official stressed that, from 2019 to December this year, the country is not paying interest or capital.

"And, taking advantage of the extra revenues, depending on the level of oil, we are already moving forward with some advances on this debt, in the sense of also having an effect on what this service would be, from the point of view of the interest component", said Dorivaldo Teixeira, stressing that the State is saving, with this exercise, amounts of around 1.3 billion dollars.

"This is the effect on capital, then there is the interest, associated with that 1.3 billion [dollars], which the State ends up not having to pay in the future", he underlined.

According to the director of the debt management unit at the Ministry of Finance, "the annual indebtedness plan is well executed", due to some interventions in the domestic market.

"During this year, we had the opportunity to make some adjustments to our system of preferential operators of the treasury bond, with these adjustments we managed to convince three banks to be part of this system. This allows us to issue in a better way, we managed to create conditions for that the secondary market begins to have quotations, from the point of view of prices, and the vision in this sense was also to make reference issues, in the sense of creating the conditions to create the necessary liquidity to convince people and remove people's fear to invest in long-term bonds", he pointed out.


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