“Eurobonds” issue portfolio represents 19% of the debt stock

Angola’s portfolio of issues on the London stock market of international bonds, in the form of “Eurobonds”, today represents around 19% of the debt stock, the Ministry of Finance has said.

Eurobonds are all securities issued in a market whose security currency is different from the issuing market currency, in this case the Kwanza.

The data were released by the Minister of Finance, Vera Daves, to the investors in the international financial market with present or future interest in Angolan bonds.

The ceremony took place during a roadshow held last week in Washington, USA, as part of the spring meetings of the World Bank and the International Monetary Fund (IMF), which ended on Sunday, April 16th.

The meeting was attended by around 60 representatives of various entities operating in the international financial market.

The Angolan minister of Finance, Vera Daves, addressed the main macroeconomic indicators and ongoing measures for public debt management, according to a note from the sector reached ANGOP on Monday (17).

“These are numbers that investors usually like to follow and hear firsthand from the portfolio holders”, said Vera Daves, stressing that verbal information is always better than just reading reports and statistics.

The 2023 General State Budget forecasts a public debt of around 45%.

At this event, Angola presented fiscal, monetary, exchange rate and real economy policies to investors in the international financial market with a present or future interest in Angolan securities.

The Angolan delegation, still within the framework of the meetings in Washington, held a meeting on Friday, 14th, with the Vice-president of the International Finance Corporation (IFC), Sérgio Pimenta, and senior staff of the institution.

During the meeting, Angola asked for greater commitment from the IFC in financing projects and initiatives from the private sector.

According to the available data, currently the pipeline of projects includes some components of technical assistance and consultancy, as well as short and long term financing, involving local banks such as BNI, BFA, BMA, among others.

In terms of infrastructure, such as transport and telecommunications, there are possibilities for IFC to get involved in supporting, in technical terms, the structuring of public-private partnerships (PPP).

IFC’s Vice President, Sérgio Pimenta, recognised the existing operational difficulties, ensuring greater involvement of the organisation in the opportunities that arise.

During the meeting, priorities were aligned with a focus on supporting the private sector, such as grain production, livestock, fisheries and the structuring of PPPs, with emphasis on the transport, energy and water sectors.

The IFC-International Finance Corporation- is the World Bank Group wing dedicated to supporting the private sector and has been operating in Angola since 2019.

Source: Angola Press News Agency (APNA)