The National Bank of Angola issued state debt in the amount of 26.9 billion kwanzas (US$197 million) in the week of 7-11 September the central bank said in a statement issued Monday in Luanda.

Of the amount placed on the primary market 16.6 billion kwanzas were represented by Treasury Bills and 10.3 million kwanzas in Treasury Bonds.

Treasury Bonds were issued with maturities of 2 and 5 years, with interest rates of 7.00 percent and 7.77 percent, respectively, and the average interest rates calculated for Treasury Bills were 7.00percent, 7.83 percent, 9.00 percent and 9.45 percent for maturities of 63, 91, 182 and 364 days.

The Angolan central bank also placed 329.3 million kwanzas of state debt in direct sales to the public.

Overall, the National Bank of Angola placed more than 27.2 billion kwanzas (US$202 million) in debt in the primary market, an increase of 186 percent compared to the first week of September.

This year the Angolan government plans to contract state debt of around US$20 billion in order to fill the gap caused by the shortfall in tax revenue due to a drop in the price of oil, the country’s main export. (macauhub/AO)