Luanda: The Angolan government closed the last half-year with a debt of USD 8.9 billion to China, a reduction of around 11 percent compared to the USD 10 billion corresponding to the 24 months prior to this period, according to data released on Tuesday by the Public Debt Management Unit.
According to Angola Press News Agency, the balance sheet of the Annual Debt Plan for the first half of the year was presented by the director-general of the Public Debt Management Unit, Dorivaldo Teixeira. The Angolan authorities expect to reduce the current USD 8.9 billion to USD 7.5 billion by December, marking a reduction of around 15.73 percent.
'The debt with China is on a downward trajectory. In recent years, we have been reducing our exposure to debt with China, especially oil-collateralized debt,' said the director-general of the Public Debt Management Unit. Global debt began to decline in 2023, reaching its lowest level in 2024, at around 59.4 billion US dollars.
In terms of foreign debt servicing, which includes interest payments and capital repayments that Angola has to make, the official assured that it is estimated at US$5 billion, a figure that aligns with the government's plans. According to the official from the Ministry of Finance, the country is on a positive trajectory in terms of debt reduction, with an average annual decline of US$2 billion.
Net international reserves rose from 14 billion US dollars to 15.5 billion US dollars during the period in question, as per data from the Annual Debt Plan for the first half of the year. In the Eurobond market, the data indicates a maturity in November of around 874 billion, with state guarantees to face this challenge with due caution for budget execution, he concluded.
