China confirms that Angola asking for debt relief

8 June 2020

Representatives of Angola are in touch with the authorities and financial institutions in China with a view to obtaining debt relief for their country, the Chinese Foreign Ministry spokesman, Zhao Lijian, has said.

Mr Zhao told a press conference on Wednesday that China would take an active part in a programme the G20 has devised for lightening the burden of debt borne by African countries.

Mr Zhao called for developed countries and major international financial institutions to give African countries more help to counter the Covid-19 pandemic and to ease their debt burden.

This week Argus Media quoted the Angolan Ministry of Finance as saying Angola was trying to avail of the G20 programme, asking for permission to suspend its debt service payments due between 1 May and 31 December.

The compiler of commodities data quoted the Ministry as saying Angola is trying to renegotiate some deals it has with term buyers of its crude to shore up its economy.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):