Angola: Eduardo dos Santos says he left $15Bn in the state coffers

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Angola: Eduardo dos Santos says he left $15Bn in the state coffers

6:58 CAT | 21 Nov 2018

Photo: Lusa

The former president of Angola, José Eduardo dos Santos, denied on Wednesday that he had left the presidency with empty coffers, swearing that he left at least $15 billion for the government that followed him, contrary to what his successor has said.

“I did not leave the coffers empty. In September 2017, when I handed over power, I left $15 billion in the Banco Nacional de Angola as net international reserves entrusted to a manager who was the governor of the central bank under government guidance”, he said.

Speaking to reporters but refusing to take any questions at the headquarters of the Fundação Eduardo dos Santos, in Luanda, the country’s former president said there was a need to “provide some clarifications” about how he handled public assets over his 38 years in government.

In an interview on Saturday to the Portuguese ‘Expresso’ weekly paper, the current president of Angola, João Lourenço, said that when he assumed power the coffers were empty or being emptied.

Eduardo dos Santos rebutted that the state budget is approved by parliament and all state revenues and expenditure must be recorded.

“The 2017 budget had a 6% deficit and this was covered by the sale of securities to commercial banks, a debt that would later pay interest and the money was deposited in the treasury”, Eduardo dos Santos added.

Source: Lusa