Angolan state owes US$69.5 billion

19 November 2018

The debt of the Angolan state amounts to US$69.5 billion, the director of the country’s Debt Management Unit, Walter Pacheco, said in Luanda quoted by Angolan newspaper Mercado.

Pacheco said that 60% or approximately US$40 billion of that amount corresponds to foreign debt, and the remaining 40% or US$30 billion to domestic debt.

The official, speaking at a meeting on public finance addressed to members of the Angolan parliament, added that when debts of public companies are added to the total, such as oil and gas company Sonangol, total debt reaches US$72.45 billion, with China the main lender.

Pacheco said that between 2010 and 2012 public debt ranged between US$20 billion and US$30 billion and by 2016 it reached US$68 billion. (macauhub)