Angolan Public Debt is valued at US$70 billion

19 October 2018

Angola’s public debt is currently estimated at US$70 billion, with US$30 billion of external debt, the finance ministry said in a statement posted on its website.

The public debt contracted from commercial entities, in the case of financial institutions, is valued at US$22 billion, an amount that has been assigned essentially to finance projects related to energy and water, construction and transportation.

In this regard, the main creditor of Angola is China, which through the Chinese Development Bank has authorised loans amounting to about US$15.3 billion.

The statement adds that the government has also incurred debts with multilateral agencies, such as the World Bank and the African Development Bank, as well as by issuing eurobonds, and with suppliers.

The Angolan government has recently approved the reopening of the issuance of eurobonds, the second issue carried out by Angola in the amount of US$500 million.

This issue would be added to the US$1.25 billion issue in May, maturing on 8 May, 2048, with a coupon interest rate of 9.375% per year.

These figures were released last Tuesday during a hearing meeting on the proposal of the General State Budget for 2019, with the Ministry of Finance giving assurances in the statement that current debt levels are sustainable. (macauhub)