Wednesday, December 01, 2021

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Angola seeks relief of financial tensions worsened by Covid-19

Angola seeks relief of financial tensions worsened by Covid-19

Luanda, Jun 12 (Prensa Latina) This week Angola requested a new extension of payment to external creditors to alleviate its financial tensions aggravated by the Covid-19, while it continues reforming in its economy.
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The request was addressed specifically to the sovereign partners of the Group of Twenty (G-20) in order to stop the service of the bilateral unsecured debt, from July 1 to December 31, 2021.

As reported here by the Finance Ministry, a positive response from these guarantors would allow the country to save three billion dollars by 2023.

In terms of sustainability, the organization guaranteed that the national executive continues to implement an ‘ambitious program’ of macroeconomic reforms, with emphasis on debt management.

Despite the negative impacts of Covid-19, public indebtedness has a sustainable basis and the moratorium requested from G20 partners would provide additional funds to continue mitigating the consequences of the pandemic, Finance argued.

Another newsworthy event in the economic field was Angola’s attendance at the first forum of investment promotion agencies in Africa, whose sessions are being held in Cairo, Egypt.

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