Angolan government owes US$1.216 billion for 2010 investment programme

18 January 2011

Luanda, Angola, 18 Jan – The debt taken on due to the 2010 Public Investment Programme in Angola is estimated at US$1.216 billion, said the minister of State and head of the Presidential House, Carlos Feijó.

Of the total debt, originating at the ministries for Urbanism and Construction, Transport, and Energy ad Water, payment documents were issued in the amount of US$200.7 million, which accounts for 18.24 percent of the total, Feijó said, on presenting the government’s activities in the fourth quarter of 2010.

The low level of payments was due to additional credit difficulties, the need to register accounts in foreign currencies and the existence of projects that were not registered in the public investment plan and the general state budget.

Cited by Angolan news agency Angop, Feijó said that the government’s intention was to pay off all debts for projects included in the 2010 investment programme and the budget by the end of January.

The process for paying off debts from the 2008-2010 period has made considerable advances, and the amount yet to be paid is estimated to stand at US$2.113 billion, and is expected to be paid in the first quarter of 2011. (macauhub)