Angolan Finance minister Armando Manuel Friday in Washington D.C , United State, considered moderate the country's loan, both internally and externally, putting the country's debt at below 50 percent of the Growth Domestic Product (GDP ).
The minister was speaking to Angop, on the sidelines of the preliminary meetings that precede the annual meetings of the International Monetary Fund and World Bank, running from 11 to 13 this month.
The minister predicted that in the coming years the loan's profile will not exceed the 60 percent goal. He added that the national economy is experiencing a stable framework in management of its external debt, in particular. According to Cabinet minister, the Angolan debt is essentially linked to the funding needs of public expenditure.
While for some economies the loan indicators recommend that the debt does not exceed 60 percent of gross domestic product. To this purpose, Armando Manuel said that the Angolan Government has a debt significantly below the said figure. The minister expressed optimism that due to the financing needs of the economy, specifically the public investments portfolio will keep regular contact with international partners, both bilateral or multilaterally.
According to him, one never pay off the debts but they (loans) are managed. In the case of the countries with scanty resources but need to grow, the minister says that it is necessary to resort to debts in order to cover its needs.
Armando Manuel is leading the Angolan delegation at the event.