Angola wants debt payment deadline extension

 Angola will reduce spending and optimize tax management if the initiative to extend payment of its debt is not accepted by international creditors, the Finance Minister, Vera Daves de Sousa said Tuesday.

The Paris Club suspended Angola's debt between September and December of this year. During this period, the country will not pay capital and interest. At the end of the period, the country will have about three years to pay for the suspension period.

According to Vera Daves, who made those statements after attending a workshop on "Post-Covid-19 Recovery and Resilience," promoted through video conference by the IMF, the country is negotiating with international creditors to postpone payment.

She told the press at the end of the meeting at 7 p.m. that there is an opening for dialogue with creditors, which has been done with the World Bank and the Paris Club - the latter in turn leads the process by interacting with its members.

Without prejudice to the negotiations with those institutions, the minister said that if there is room for bilateral agreements, this will be done.

She also explained that there is coordination in debt negotiations between the main African debtors in the Paris Club, but stressed that in addition to more time to repay the debt, they need more financial flows into their economies.

"There is consensus that postponement or extension among African debtors is welcome," the Finance Minister said, adding that during the meeting there was no talk of debt forgiveness.