Luanda - The minister of Finance, Vera Daves, reinforced Friday in the Province of Luanda that Angola´s resort 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 USD 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 enter, due to the costs", stated Vera Daves in the meeting with journalists.
At the same time, she admitted that not going to the international financial market has been difficult for the national treasury, as money has stopped coming in.
Due to that, the minister appeals for calm while observing what is happening on the international scene.
According to her, at this time that all emerging economies, including Angola, that will try to finance themselves will be at a high cost, adding to what she called the "burden" that the country already has.
Regarding the international context, she said that the Ministry of Finance is managing the situation, as it seeks to “reduce superfluous expenses as much as possible”.
Therefore, she 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 organizational unit", explained the minister urging that each one should assume their choices.
Angola is on its way to be out of a situation in which it had a public debt to Gross Domestic Product (GDP) ratio of 130%, in 2020, to another in which it has a ratio of around 66%.
This time, the authorities seek to be cautious in all the decisions that were taken, including the decision to go to the international financial markets.
NE/MRA/jmc
