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Thu, 09 Jul 2020 10:14 - Updated Thu, 09 Jul 2020 10:14

Vera Daves encourages multilateral partnerships

Luanda - The minister of Finance, Vera Daves, has considered fruitful the partnership between Angola and multilateral and bilateral institutions, within the framework of the reforms underway in the country to attract private investment.

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minister of Finance, Vera Daves

Photo: Cedida

In a note, the Ministry of Finance refers that Vera Daves intervened last Wednesday, through video-conference, at the high-level ministerial meeting, an initiative of the Paris Forum and the Saudi presidency of the G-20.

"We are taking the opportunity to accelerate our reform agenda, in order to promote a better business environment", underlines the note, citing the Finance Ministry.

According to the minister, the crisis is also an opportunity that is serving for Angola to accelerate the necessary transformations for the growth of private investment and debt relief initiatives.

The minister also emphasized the initiatives of the Angolan Executive to face the negative effects caused by the Covid-19 pandemic.

“We took prompt measures to slowdown the spread of the virus. Which gave us time to prepare,” said the minister.

The meeting took place under the motto “Facing the Covid-19 crisis: restoring sustainable capital flows and robust financing”.

Among the participants were several finance ministers, central bank governors, as well as senior figures from the economy and finance, especially from the G-20 countries.

On behalf of Angola, Vera Daves participated in the opening panel of the conference alongside the director-general of the International Monetary Fund (IMF), Kristalina Georgieva, and the President of the World Bank, David Malpass.

The minister of Finance also participated in the panel on “Financing Sustainable Development in Africa”.

Angola joined the G-20 initiative of temporarily suspend debt service and, in parallel, has pursued other approaches with creditors that have generated savings that should put Angola in a better position to promote economic development and diversification, in the medium and long terms.

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