LUANDA, Jan. 28 — Angola’s oil-backed debt has fallen to 7.7 billion U.S. dollars, down from 16.3 billion dollars in 2020, Secretary of State for Finance and Treasury Ottoniel dos Santos has said.
Speaking Tuesday at the presentation of the 2026-2028 Debt Strategy and the 2026 Annual Debt Plan in Luanda, dos Santos attributed the reduction to stronger fiscal discipline, technical rigor and difficult policy choices.
He said the progress was also supported by the confidence of financial institutions and development partners, including multilateral agencies, as well as more prudent debt management focused on medium- and long-term sustainability.
In 2020, Angola’s public debt faced major challenges, including a debt-to-GDP ratio of about 69 percent, heavy reliance on oil-backed borrowing and high exposure of domestic debt to exchange-rate risks, he noted.
Looking ahead, dos Santos said the main challenge in 2026 is to reduce the projected debt service burden, estimated at about 15.1 trillion kwanzas (about 16.5 billion dollars).
“In terms of the debt profile, this is potentially the last major hurdle to overcome,” he said.
He added that the government, financial sector and development partners must continue working together to ensure public debt supports macroeconomic stability, sustainable financing, public investment and private-sector growth, ultimately benefiting employment and household welfare. (Namibia Daily News/Xinhua)
