Deadline to claim public debt arrears in Angola ends on 31 January 2019

5 December 2018

The Angolan government has set 31 January, 2019 as the deadline for submitting complaints about arrears of domestic debt for the years 2013 to 2017, the Finance Ministry said in a statement.

The information is contained in Executive Decree 507/18 of 20 November, which justifies the measure with the need to “ensure the sustainability of public debt through a strategy to improve its management.”

“All claims to be submitted are subject to independent audit and the current debt certification procedure,” said the same decree, signed by Finance Minister Archer Mangueira.

With the approval of this Decree, creditors will be obliged to submit to the Angolan State several certified documents, under penalty of exclusion.

The law, which entered into force on 20 November 2018, sets out that the required documents must be presented to the budgetary units that have contracted the debts, “for due processing, according to the methodology defined by the Ministry of Finance.”

The statement also added that failure to present a complaint within the established period removes any obligation by the State to creditors. (macauhub)