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Angolan president reiterates payment of debt to Portuguese firms

Luanda, ANGOLA, March 7 - The Angolan president, João Lourenço, reiterated on Wednesday in Luanda that the Angolan government is to pay the debt it has with Portuguese firms, based on certification process to be assessed by the Finance Ministry. ,

The Angolan Head of State, who was speaking in a joint press conference with the Portuguese president, Marcelo Rebelo de Sousa, said the debt is not a taboo, it is to be publicly spoken about.   


João Lourenço, who did not add further details on the amount to be paid, said the debt certification with Portuguese firm is a process that is underway for few months and as soon as it is certified Angola will pay each company what the country owes them.


The debt, added the Angolan president, is to be assessed by Angola’s Finance Ministry, underscoring that there is the willingness from his country, to honor the commitment with Portuguese government and other institutions of this European nation.


However, underlined the Angolan statesman, the payment is not imposed. Angola proposes different ways of negotiating with creditors case by case the payment of the debt.


According to João Lourenço, there is not a single firm that can say it has been imposed the way it is to be paid.


As regard to reciprocal investment protection agreement the Angolan president ruled out the existence of risks relating to Portuguese investors or to other countries of the European Union which have manifested interest to aid Angola’s capital repatriation process.


In the meantime, the Angolan president said the Portuguese authorities and others are on alert to aid the country to sort out what is legal and what is illegal capital.


The Portuguese president is since Tuesday in Angola for a four-day state visit to this African country.