The Angolan President authorized an additional credit of 2,677 million kwanzas (3.4 million euros) for the payment of expenses of SINSE (State Information and Security Service), according to a diploma published today in the Republic Diary.
The document added that the credit “should be awarded in stages, depending on the payment needs and after all the funds initially allocated have been exhausted”.
In another diploma with the same date, November 26, President João Lourenço, approved the implementation of the Debt Service Suspension Initiative (DSSI), launched by the G20, and authorized the Minister of Finance, Vera Daves de Sousa, to negotiate, approve and sign the specific terms and conditions of any documentation related to this initiative.
Last week, the minister participated in an online event “Invest in Africa”, carried out by Bloomberg, indicating that the terms of the debt payment agreement to the main creditors are still being negotiated.
“With regard to creditors in China, we benefited from the DSSI initiative with one of the creditors under the same conditions as the other banks that are part of the initiative. At the same time, we are also negotiating with two other creditors with whom we have business partnerships. A negotiation that gives us tax relief and that allows us to spend on other expenses, very necessary such as health ”, he said.
According to Vera Daves de Sousa, the desire would be tax relief for the next three years, starting to count in 2020, estimating that this negotiation would result in a savings relief of almost 6 billion dollars (five billion euros) resulting negotiation, which would translate into a great help to leverage the economy.
