Angola issues US$2.1 billion in debt in 2016

11 February 2016

The government of Angola this year plans to issue over US$2.1 billion in Treasury bonds, US$423 million of which in foreign currency, to finance public works, according to two executive orders signed by the Minister of Finance.

One order states that the issue of Treasury bonds in kwanzas amount to US$1.693 billion (264 791 800 000 kwanzas), to be placed under auction, to “finance public works planned in the state budget.”

In foreign currency, the government will issue Treasury Bonds amounting to US$423.2 million (66.197 billion kwanzas), according to another executive order.

Next May, Angola will start paying interest on the first issue of eurobonds in the amount of US$1.5 billion, whose maturity is set for November 2025.

The fall in oil prices, Angola’s main export and its main source of tax revenues, has forced the government to borrow from various institutions, both in Angola and abroad. (macauhub/AO)