Luanda- The total securitised debt service, up to December 2022, amounted to Kz 3.835 billion, of which Kz 2.7 billion paid in repayments.
The value of the amortisations corresponds to 73%, while 27% or 1.119 billion corresponds to the payment of interest.
According to the 2022 annual report, recently published by the Debt Management Unit (UGD), attached to the Ministry of Finance, the service of Treasury bills in national currency corresponded to the largest share of around 72%.
Treasury bills (BT) were 12%, while foreign currency treasury bills (OT-ME) stood at 16%.
Also according to the document, as of December 31, 2022, the total stock of national treasury bills stood at 9.760 billion kwanzas.
Of this value, OT-MN appears with a stock of 7.567 billion Kz (77%), OT-ME with 1.731 billion Kz (18%) and BT with 465.116 billion Kz (5%).
By type of creditor, the outstanding debt denominated in national currency is mainly held by commercial banks (64%), followed by non-banking companies (12%), the National Bank of Angola (8%), pension and investment funds (7%), individuals, the National Institute of Social Security (4%) and insurance companies (1%).
For the period 2023 to 2027, the UGD forecasts a significant reduction in the servicing of securitised debt, both in capital and interest and in instruments.
During that period, 2022, issuances of treasury bills in national currency (OT-MN) totaled 2.130 billion Kz, with maturities ranging from 2 to 10 years.
Of this amount, Kz 1.469 billion was issued at auction and through the Investor Portal, Kz 128.45 billion was issued to settle arrears.
An additional Kz 216.81 billion was used for capitalisation of public institutions, Kz 272.03 billion for stock market transactions and Kz 43.84 billion for direct project financing.
The issuance of treasury bills (BT) in 2022 amounted to 488.68 billion Kz, with maturities of 91, 182 and 364 days, accounting for 54%.
The issuance of treasury bills in foreign currency (OT-ME) recorded a volume of 462.89 billion kwanzas, with maturities between 3 and 7 years.
In terms of risk analysis of the bond debt portfolio, the UGD highlights indicators such as interest rate, refinancing and foreign exchange risk.
