Angolan Head of State approves Non-Objection in favor of Guinea-Bissau

Luanda – Angolan Head of State Jose Eduardo dos Santos recently approved the “No Objection” request for the third revision of the International Monetary Fund (IMF) program of financial assistance to the Republic of Guinea-Bissau.

According to the Presidential Decree published in the Official Gazette of 12 July, that reached Angop on Wednesday says that Guinea-Bissau is among the groups of poor countries, heavily indebted or Highly Indebted Poor Country (HIPC), and deserves a Differentiated treatment regarding financial aid.

The request by the Government of Angola for the Non-Objection of the Republic of Guinea-Bissau is for approval by the Board of the IMF, in progress in that country, with a view to the payment by that financial institution to support the economy of the African Portuguese-speaking country.

Guinea-Bissau has requested financial support from IMF to tackle the economic crisis and boost its economy.

“Taking into account that the IMF requires the Republic of Guinea-Bissau to negotiate its debt with the creditor countries, including Angola, and to honor those countries,” reads the document signed by the President of the Republic of Angola, Jose Eduardo dos Santos.

The Republic of Guinea-Bissau has contracted several debts with the Republic of Angola under some financial protocols since 1978, valued at more than US $ 45 million.

Source: Angola Press News Agency