Angola: Sonangol takes on debt of €26.4 bn over 10-year period

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Angola: Sonangol takes on debt of €26.4 bn over 10-year period

1:56 CAT | 29 May 2018

A comissão política da Resistência Nacional Moçambicana (Renamo) apelou hoje à calma dos militantes e remeteu para sábado, na cidade da Beira, o anúncio das cerimónias fúnebres do líder do partido, Afonso Dhlakama, Beira, Moçambique, 4 de amio de 2018. "A comissão política nacional apela a todos os membros, simpatizantes e sociedade em geral [para terem] muita calma e coragem. Amanhã [sábado] anunciaremos o programa das exéquias fúnebres" e respetivas datas, referiu Ossufo Momade, chefe do departamento de defesa da Renamo. RICARDO FRANCO/LUSA

Angolan state oil company Sonangol has taken on debt totalling US$31 billion (€26.4 billion) from the international market over the past 10 years, but ended 2017 with debt of US$4.9 billion (€4.18 billion), the Angolan government has said.

The information comes from a document from the Angolan government sent to investors this month, which Lusa had access to, saying that these loans were secured by Sonangol through banking syndicates.

Among the banks that have financed the Angolan state oil group are Credit Agricole Corporate and Investment Bank, Standard Chartered Bank, the China Development Bank, Industrial and Commercial Bank of China and BNP Paribas, according to the same information.

The information also showed that Sonangol had an external debt of US$ 9.9 billion (€8.45 billion) as of 31 December, 2016, a year later falling to US$4.9 billion (€4.18 billion).

In 2018, the board of Sonangol, led since last November by Carlos Saturnino, after the dismissal of Isabel dos Santos, plans to take on another US$4 billion (€3.4 billion) in debt from commercial banks.

Source: Lusa