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Fri, 05 Jan 2018 10:22 - Updated Fri, 05 Jan 2018 10:26

Government reiterates commitment to comply with domestic and foreign debt

Luanda - The Finance Ministry on Thursday reiterated its commitment to creditors to fulfill its domestic and foreign debt service, an objective reflected in the proposal of the State Budget for 2018.

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Ministry of Finance Building

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The Executive's economic team presented on Wednesday the Macroeconomic Stabilization Program (PEM) at a press conference held in Luanda, recognizing the need to reverse the current trajectory of the public debt.

In a press release sent to Angop on Thursday, the Ministry emphasizes that PEM reinforces the need for an effective  management of the internal and external public debt portfolio, using the market instruments at its disposal, among others issues, to promote titles fungibility.

The PEM also establishes, among other monetary, exchange and fiscal policies measures, the pursuit of the Public Investment Programme, registering in the state budget  of 2018 only the projects that have secured financing.

The stock of the country's external debt is estimated at 38.6 billion US dollars, according to an announcement made on Wednesday by Finance Minister Archer Mangueira.

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