The document added that the credit "must be allocated in stages, according to payment needs and after all initially allocated funds have been exhausted".
In another law of the same date, November 26th, João Lourenço approved the implementation of the Debt Service Suspension Initiative (DSSI), launched by the G20, and authorized the Minister of Finance, Vera Daves, to negotiate, approve and sign the specific terms and conditions of any documentation related to this initiative.
Last week, the minister participated in the online event "Investing in Africa", held by the Bloomberg agency, indicating that the terms of the debt payment agreement with the main creditors are still being negotiated.
"Regarding the creditors in China, we benefited from the DSSI initiative with one of the creditors on the same terms as the other banks that are part of the initiative. At the same time, we are also negotiating with two other creditors with whom we have business partnerships. A negotiation that gives us fiscal relief and allows us to spend on other much needed expenses like health care," he said.
According to Vera Daves, the desirable would be a fiscal relief for the next three years, starting in 2020, estimating that this negotiation would result in a savings relief of almost 6 billion dollars resulting from the negotiation, which would be a great help to leverage the economy.
