Angola’s certified debt to Portuguese companies reaches US$105 million

19 September 2018

The certified debt of Angola’s public entities to Portuguese companies is estimated at US$105 million and the non-certified debt is US$350 million, the Angolan Finance Minister said on Tuesday in Luanda.

Archer Mangueira, speaking at the opening of the Angola-Portugal Business Forum, where Portuguese prime minister, António Costa also spoke, said he intends to certify most of the debts to Portuguese companies by next November.

Portuguese news agency Lusa reported that the Portuguese side estimates that the non-certified debt of Angolan public entities to Portuguese companies, mainly civil construction and public works firms, is between US$466 million and US$583 million.

The Angolan minister also said that the part of the debt that is not certified was taken on in violation of the rules of execution of the General State Budget, and is not part of the Integrated State Management System.

Archer Mangueira said that the settlement of debts is part of a macroeconomic stabilisation, fiscal, exchange and business improvement programme launched in January of this year, which, among other issues, includes payment of arrears. (macauhub)