According to Presidential Decree “254/22” of October 24, solely these two public firms, Sonangol-EP, the state-owned oil firm, and TAAG-EP, Angola’s airline, have been chosen as a result of they’re impartial firms with the capability to boost inner and exterior financing.
“Although there is recognition that these companies are autonomous, the imperative of including their debts lies in the fact of guaranteeing the alignment between the indebtedness actions of these companies and those of the central government, to comply with the terms defined in Law nº 11/3, of September 3 – the Base Law for the Public Business Sector,” the doc stresses.
In the doc, exterior debt is taken into account all debt whose creditor is a international entity, and inner debt represents the liabilities contracted with home market establishments.
The Public Debt Management Unit could revise this technique yearly ought to circumstances warrant; if macroeconomic assumptions endure substantial modifications, “the technique could also be refined to align with the revised aims.
The predominant goal of the Public Debt technique is to fulfill borrowing wants whereas sustaining a steadiness between lowering borrowing prices and conserving dangers at sustainable ranges.
The steadiness of the previous triennium (2019-2022) is constructive, particularly the discontinuation of securities listed to the alternate price, the standardization of particular points to market securities, the discount of short-term inventory, and the discontinuation of contracting to finance with oil ensures, elements that “floor the definition of the technique for 2022-2024 within the consolidation of the rules beforehand outlined.
With info from Lusa