9 August 2017

Angola - President Approves Issuance of Sovereign Debt in International Markets

Luanda — Two billion US dollars is the amount authorized to the Finance Minister to implement the strategy of issuing sovereign debt securities in international markets, in the form of Eurobonds, aiming to improve the composition of the external debt stock.

This authorization, included in the Presidential Order published in the State Gazette, dated August 4, to which Angop had access on Tuesday, justifies the need to start working to investigate the possible raising of external financing through sovereign bonds of Angola.

According to the Presidential Order, the framework for the launch strategy of Eurobonds in international markets in 2015 has demonstrated its successes, contributing to the establishment of a new and important channel for access to external financing.

This time, the Finance Minister is authorized to carry out the actions and implement the measures that allow the completion of the work leading to the execution of external financing up to the amount of US $ 2 billion.

The Finance Minister is also responsible for establishing, by means of an Executive Decree, such additional rules as may be necessary for the implementation of the measures approved in this law already in force, signed by the President of the Republic, José Eduardo dos Santos.

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