Washington — The World Bank will soon disburse $750 million to finance expenses in Angola's 2026 General State Budget, announced Finance Minister Vera Daves de Sousa this Saturday in Washington, DC, United States of America.
At a press conference reviewing Angola's participation in the Spring Meetings of the World Bank and the International Monetary Fund, the minister indicated that this recently approved operation has a guarantee issuance component that will help pay off the most expensive debt and, with the savings, strengthen projects in the education sector, especially for the construction of more schools and teacher training.
She explained that the initiative was anchored in a set of measures already implemented related to improving the functioning of public finances and modernizing systems.
The minister assured that Angola will continue to mobilize resources to support structural reforms and ongoing efforts to diversify the Angolan economy, promote inclusive growth, and intensify job creation. Still within the scope of the partnership with the World Bank, she said that a series of actions are underway aimed at increasing the availability of electricity and drinking water in the country.
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She pointed to basic sanitation as another challenge that the Executive intends to address and seek funding for, with full availability already on the part of multilateral institutions to make this component viable.
When questioned about the impact of rising fuel prices on the international market, Vera Daves said that, from a fiscal perspective, the Government anticipates a reduction in the budget deficit or a surplus, depending on the price level, which will reduce the need for external debt.
With regard to public debt, he said that it remains sustainable, due to the work that the Government is carrying out, especially from the point of view of contracting new financing.
As for Angola's participation in the event, he considered it positive, judging by the intense journey undertaken by the delegation led by him, which took place between statutory meetings, the International Development, Monetary and Financial Committees, as well as those of the Constitution, the World Bank, the International Monetary Fund and different agencies.
Once all this goodwill has been identified, the minister said, the challenge will be to follow up with the focal points, to enable the implementation of all the initiatives presented at the event.
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The Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (GBM) took place from the 13th to the 18th of this month, under the theme "Building prosperity through policies".
Topics were discussed around the situation of African policies that boost industries and create jobs in Africa, the Lobito Corridor, Investment in Africa, among others.
The Angolan delegation to the event included the governor of the National Bank of Angola (BNA), Manuel Dias, the Secretary of State for Planning, Luís Epalanga, as well as senior officials and technicians from the two ministerial departments, the National Bank of Angola, the ministries of Transport, Tourism and Agriculture and Forestry. ACC/QCB/DOJ
