Africa-Press – Angola. Angola’s debt to China is estimated at US$20 billion, the Chinese ambassador, Gong Tao, said this Wednesday in Luanda.
Available data indicate that external and internal public debt levels are currently around 66% of GDP, ie USD 70 billion dollars, 60% of which corresponds to external debt and 40% to internal debt.
As far as is known, Angola’s debt to China represents around 42.5% of the country’s external debt, falling by 1.8% between the end of 2020 and the third quarter of 2021, from USD 21,993.1 million to USD 21,602, 7 million USD.
Meanwhile, the volume of trade between Angola and China, in 2022, was around US$27.3 billion.
Speaking to the press, on the sidelines of a lecture on China-Angola relations, after having visited the headquarters of Edições Novembro, Gong Tao, underlined that the debt is owed to China’s financial institutions.
He highlighted that China has been Angola’s biggest trading partner and an important source of investment for many years.
The diplomat ensures that China actively supports Angola’s development, providing assistance through various donation projects, such as CINFOTEC Huambo, Luanda General Hospital, Agricultural Technologies Demonstration Center in Mazozo and the Venâncio de Moura Diplomatic Academy.
“As China-Angola relations enter a new phase of development, the two societies are more anxious to deepen their mutual knowledge”, he reinforced.
The ambassador adds that the Chinese Government will continue to promote the strategic relationship of partnership, for the evolutionary process of the two countries.
Currently, the presence of Chinese companies in Angola numbers in the hundreds, mainly in Luanda, in the fields of civil construction, commerce and industry.
The two countries are strategic partners, with political-diplomatic and cooperation relations that have known a notable increase since 2000, allowing the signing of various legal instruments in the social, commercial and business domains.
This year marks the 40th anniversary of the establishment of political-diplomatic relations between Angola and China.
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