Africa-Press – Angola. The Minister of Finance, Vera Daves, reiterated, Friday, that Angola’s trip to the international financial markets continues to depend on the best conditions of interest rates applied.
For this year, Angola has on its agenda the issuance of US$1 billion in debt securities, a process that is awaiting the lowering of interest rates, which remain high in the international market.
“If the conditions of the markets are maintained until the end of the year, we will not go, due to the costs”, affirmed Vera Daves in the meeting with journalists.
At the same time, Vera Daves admitted that not going to the international financial market is “weighing” on the national treasury, as money has stopped coming in.
Despite this absence, Vera Daves reiterates her calm, observing what is happening on the international scene.
At this point, according to the minister, all emerging economies, including Angola, that try to finance themselves will be at a high cost, adding to what she called the “burden” that the country already has.
Looking to future generations, Vera Daves says she doesn’t want to take that risk, considering it would be walking into a trap.
In view of the international context, he said that the Ministry of Finance is managing the situation, as it seeks to “shrink superfluous expenses as much as possible”.
Therefore, it reiterates the request for help from public managers in order to be accurate in defining priorities.
“We recommend, but we cannot replace those that are the decisions of each budgetary unit”, he clarified, urging that each one should assume their choices.
Angola is on its way out of a scenario in which it had a public debt-to-GDP ratio of 130%, in 2020, to one in which it has a ratio of around 66%.
This time, the authorities seek to be cautious in all decisions that are taken, including the decision to go to the international financial markets.
For More News And Analysis About Angola Follow Africa-Press
