China, Great Britain top list of Angola’s creditors

     Economy           
  • Luanda     Friday, 14 May De 2021    19h31  
National Flag of the Republic of Angola.
National Flag of the Republic of Angola.
Nelson Malamba

Luanda - China and Great Britain are Angola's main creditors, holding around 68.9 percent of the country's total public debt, according to the balance of payments report and the position of international investment released by the National Bank of Angola (BNA).

The BNA reports brings data recorded in the fourth quarter of 2020, whose the total debt value of Angola stood at USD 68. 2 billion, against USD 68. 3 billion of the third quarter.

The figure represents a slight reduction of around USD 34.4 million.

As for the stock of public external debt by country, in the charts, China appears in first place with 43.9 per cent against the 43.6 per cent registered in the third quarter of 2020, while Great Britain continues with 25 per cent percent, with a slight decrease compared to the previous period, which was 25.6 percent.

The report also quotes the International organisations with (11.4%), Israel (4.4%), Ireland (2.5%), Portugal (1.8%), Spain (1.7%), United States ( 1.5%), Japan (1.5%), France (1.2%) and other countries (5.3%).

In turn, the public external debt (Government and public corporate sector) experienced a reduction after reaching USD 50. 1 billion in the said quarter, against USD 50 4 billion in the third quarter of 2020.

Foreign investment

In the same period, the stock of Angolan investment abroad was USD 3.2 billion invested, mostly in Singapore, Mauritius, Isle of Man, Portugal and São Tomé and Príncipe.

Singapore received an investment of USD 1.07 billion, Mauritius (USD 725.2 million), Isle of Man (USD 297, 0 million), Portugal (USD 452.3 million), São Tomé and Príncipe (USD 45.7 million), Cape Verde (USD 23.4 million) and other countries (USD 4.4 million).

The document also states that the net position of international investment, in the fourth quarter of 2020, registered an improvement in its deficit balance of USD 32.1 billion against the USD 32 9 billion in the third quarter, justified by the reduction of liabilities in a magnitude greater than the reduction of financial assets.

Compared to 2019, the net position of international investment deteriorated 6.4 percent, from USD 30.1 billion to USD 32.1 billion.

The description of the net position of international investment is made by assets and liabilities that in turn cover direct investment, financial derivatives portfolio and other investment reserve assets.

 

 





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