Portuguese-speaking African countries owe Portugal US$3.508 billion

8 October 2014

The debt owed by Portuguese-speaking African countries (PALOP) to Portugal rose 3.5 percent in 2013 to US$3.508 billion, according to figures issued by the Bank of Portugal in Lisbon.

“The official debt owed by PALOPs to Portugal at the end of 2013 amounted to US$3.508 billion, continuing the upward trajectory apparent since 2005,” said the report published by the central bank.

The document presented as part of the 24th Lisbon Meeting between the central banks of Portuguese-speaking countries, detailed that “the whole of the direct debt owed to the Portuguese State and guaranteed by it increased by US$122 million in 2013 (+3.5 percent ), despite slowing compared to the additional US$808 million and US$243 million seen in 2011 and 2012, respectively.”

Debt owed by Angola and Mozambique accounts for over 70 percent of total loans to Portuguese-speaking African countries, the Bank of Portugal said. (macauhub/AO/MZ/PT)