Africa BriefingAfrica Briefing

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Africa’s smartphone market declines amid rising inflation, lowest level since 2020

    June 2, 2023

    Eswatini accuses US embassy of interfering with judiciary, slams statement on sentencing

    June 2, 2023

    Ghanaian labour unions seek time to evaluate proposal on pension fund restructuring

    June 2, 2023
    Facebook Twitter Instagram
    • Home
    • About Us
      • Profile
      • The Team
      • Advertise
      • Media Kit
    • Contact Us
    • Regions
      • Ghana
      • Nigeria
      • Kenya
      • South Africa
      • Europe
      • United Kingdom
      • USA (North America)
    Trending
    • Africa’s smartphone market declines amid rising inflation, lowest level since 2020
    • Eswatini accuses US embassy of interfering with judiciary, slams statement on sentencing
    • Ghanaian labour unions seek time to evaluate proposal on pension fund restructuring
    • Violent clashes and vandalism erupt in Senegal as opposition leader receives prison sentence
    • Gambia considers legal action over contaminated medicines linked to child deaths
    • AI revolution in Africa: GITEX Africa 2023 explores transformative impact on business, society, and culture
    • Institut Pasteur de Dakar and Mastercard Foundation  announce unprecedented partnership to expand workforce for vaccine manufacturing in Africa
    • Ecobank launches ‘Ecobank Single Market Trade Hub’ to facilitate intra-African trade
    0 Shopping Cart
    Facebook Twitter YouTube LinkedIn
    Africa BriefingAfrica Briefing
    Resources
    Support Us
    • News
    • Politics
    • Business
    • Energy
    • Technology
    • CryptoTech
      • Crypto News
      • Startups & Companies
      • Crypto Currencies
      • DeFi
      • Metaverse
      • NFTs
    • More
      • Videos
      • Opinion
    • Magazine
    Africa BriefingAfrica Briefing
    Home » Angola aims for three-year ‘breathing space’ from creditors
    Business & Economy

    Angola aims for three-year ‘breathing space’ from creditors

    Editorial StaffBy Editorial StaffNovember 25, 2020No Comments0 Views
    Facebook Twitter WhatsApp Telegram
    President Joao Lourenco
    Share
    Facebook Twitter Telegram WhatsApp

    ANGOLA hopes to get ‘breathing space’ on its debt for the next three years after negotiations with its main creditors, its finance minister said on Tuesday.

    Africa’s second-largest oil exporter, which has been hit by both the coronavirus and an oil price rout, is in talks with bank creditors and China, said Vera Daves de Sousa during a Bloomberg virtual event.

    ‘We hope to have breathing space for the next three years,’ she said. ‘Since 2020, almost $6bn as a result of these negotiations.’

    Angola owes more than $20bn to a number of Chinese entities, including $14.5bn to the China Development Bank and nearly $5bn to the Export-Import Bank of China. It has also borrowed from China’s largest lender, ICBC, according to analyst calculations.

    It is also part of the G20 group’s Debt Service Suspension Initiative (DSSI), which since April has helped 46 countries defer $5.7bn in 2020 debt-service payments. G20 leaders on Sunday endorsed a plan to extend the freeze in payments to mid-2021.

    Angola’s challenges went beyond its debt negotiations, said Daves de Sousa.

    ‘That’s why we keep working on our fiscal side and also on the investments that are needed to make sure our GDP growth is good to negotiate with creditors,’ she said.

    Angola would consider tapping the Eurobond market once the market began to trust the government’s ability to service its debt again, she said.

    ‘2021 will be an important test as we believe we will start seeing the results of our fiscal reform,’ Daves de Sousa said.

    Daves de Sousa also said the government aimed for the end of 2021 or the beginning of 2022 to begin the privatisation process of large companies such as Sonangol or Endiama, reports said.

    Follow @BriefingAfrica on Twitter

    Follow @jonansah on Twitter

     

    Share. Facebook Twitter Telegram WhatsApp

    Related Posts

    Ghanaian labour unions seek time to evaluate proposal on pension fund restructuring

    June 2, 2023

    Ecobank launches ‘Ecobank Single Market Trade Hub’ to facilitate intra-African trade

    June 1, 2023

    Kenya’s President Ruto announces visa exemption for African business travellers in bid to boost intra-Africa trade

    June 1, 2023
    Add A Comment

    Comments are closed.

    Top Posts

    Sex tourism: The Gambia is fed up with UK grandmothers hunting for toy boys

    September 19, 20223,721

    Op-Ed: Qatar World Cup 2022 – prejudice, coordinated attacks and Western grandstanding

    November 4, 20222,446

    Ghanaian architect of UK’s Black History Month honoured by prestigious British university

    December 12, 20221,474

    Nigerian appointed director of UN disarmament

    October 25, 20221,144
    Don't Miss
    Technology

    Africa’s smartphone market declines amid rising inflation, lowest level since 2020

    By Editorial StaffJune 2, 202390

    THE smartphone market in Africa experienced a decline of 3.4 percent quarter on quarter (QoQ)…

    Eswatini accuses US embassy of interfering with judiciary, slams statement on sentencing

    June 2, 2023

    Ghanaian labour unions seek time to evaluate proposal on pension fund restructuring

    June 2, 2023

    Violent clashes and vandalism erupt in Senegal as opposition leader receives prison sentence

    June 2, 2023
    Stay In Touch
    • Facebook
    • Twitter
    • YouTube
    • LinkedIn
    About Us
    About Us

    AfricaBriefing is a monthly magazine designed to provide news and information on Africa to Africans at home and abroad, and the wider global audience that has a committed interest in the continent’s political, economic and social developments.

    Facebook Twitter YouTube LinkedIn
    Our Picks

    Africa’s smartphone market declines amid rising inflation, lowest level since 2020

    June 2, 2023

    Eswatini accuses US embassy of interfering with judiciary, slams statement on sentencing

    June 2, 2023

    Ghanaian labour unions seek time to evaluate proposal on pension fund restructuring

    June 2, 2023
    Most Popular

    Sex tourism: The Gambia is fed up with UK grandmothers hunting for toy boys

    September 19, 20223,721

    Op-Ed: Qatar World Cup 2022 – prejudice, coordinated attacks and Western grandstanding

    November 4, 20222,446

    Ghanaian architect of UK’s Black History Month honoured by prestigious British university

    December 12, 20221,474
    © 2023 AfricaBriefing. Designed by KMG.

    Type above and press Enter to search. Press Esc to cancel.

    Privacy Policy & Cookie Management
    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies. Read more: Read More
    Do not sell my personal information.
    Cookie SettingsAccept
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
    CookieDurationDescription
    cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
    cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
    cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
    cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
    cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
    viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
    Functional
    Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
    Performance
    Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
    Analytics
    Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
    Advertisement
    Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
    Others
    Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
    SAVE & ACCEPT