Angolan government to pay off debts to companies this month

28 April 2010

Luanda, Angola, 28 April – Angola’s Economy Minister, Manuel Nunes Júnior, Tuesday in Luanda gave assurances that the government would begin paying its debts dating back to 2009 to national and foreign companies.

The minister said that the Angolan government had “committed to settling its debts from last year,” and added that it would, “mobilise the necessary resources for that to be carried out in a normal manner.”

Júnior’s statements come after Portugal’s Finance Minister saying Monday in Luanda that a credit lien of 500 million euros for Angola would be activated in order to pay off debts to Portuguese companies operating in Angola, particularly construction companies.

Angola’s debt to the construction sector totals over US$2.5 billion with Portuguese and Brazilian companies accounting for most of it. (macauhub)