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APS - Athletics/doping: 'I am a clean athlete,' says Makhloufi
APS -ALGIERS- The triple Olympic medallist Taoufik Malhloufi, suspected by a French media outlet of possessing doping products and equipment,...
APS - Algeria plans to build power generation plants
APS-BLIDA(Algeria)-Chief Executive Officer(CEO) of Sonelgaz group Chaher Boulakhras, said Wednesday in Blida(50 km west of Algiers), that Algeria will proceed...
NNA - Health Ministry: 1,933 new Coronavirus cases, 8 deaths
NNA-The Ministry of Public Health announced,on Saturday, the registration of 1,933new Coronavirus infections,thus raising the cumulative number of confirmed cases...
APS - ألعاب القوى-منشطات: 'أنا رياضي نظيف'
APS - الجزائر - وصف العداء الجزائري توفيق مخلوفي, صاحب ثلاث ميداليات أولمبية, اتهام وسيلة إعلامية فرنسية له بحيازة مواد منشطة داخل غرفته, ب"الحملة المغرضة ضد شخصه", مؤكدا أنه "رياضي...
APS - الجزائر ستقوم 'تدريجيا' بإنجاز محطات توليد كهرباء من الآن فصاعدا
APS - البليدة - أكد الرئيس المدير العام لمجمع سونلغاز، شاهر بولخراص، اليوم الأربعاء بالبليدة، أن الجزائر ستقوم "تدريجيا" بإنجاز محطات توليد الكهرباء بنفسها من الآن فصاعدا، بعدما كانت حكرا...
NNA - وزارة الصحة : 1933 اصابة كورونا جديدة و8 حالات وفاة
وطنية - اعلنت وزارة الصحة العامة تسجيل 1933 اصابة كورونا جديدة رفعت العدد التراكمي للحالات المثبتة الى 77778.
وجاء في التقرير: (مراجعة الصورة البيانية)
APS - Taoufik Makhloufi : 'Je suis un athlète proper'
APS-ALGER-Le triple médaillé olympique algérien Taoufik Makhloufi, soupçonné par un média français de détention de produits et de matériels dopants,...
APS - L'Algérie procèdera à la réalisation 'progressive' de centrales électriques
APS-BLIDA-Le Président directeur général (PDG) du groupe Sonelgaz, Chaher Boulakhras a affirmé, mercredi à Blida, que l'Algérie procèdera désormais à...
NNA - Ministère de la Santé Publique: 1933 nouvelles personnes testées positives
ANI-Le ministère de la Santé Publique a annoncé jeudi le recensement de 1933 nouveaux cas au coronavirus durant ces dernières...
HINA - Croatian researchers participate in developing MAST fusion reactor
ZAGREB,Oct.29(Hina)-British scientists have launched a new fusion reactor that will serve as a test device for a fusion power plant...
Lusa - Business News - Portugal: PSI20 plunges deeper under 4K, losing 0.66% on Thursday
Lisbon,Oct.29,2020(Lusa)-The Lisbon stock exchange on Thursday fell for the fourth session in a row, ending with a 0.66% drop in...
Lusa - Business News - Portugal: Google Innovation Fund awards €7.8M to 32 projects
Lisbon, Oct.29,2020(Lusa)- The Digital News Initiative (DNI) innovation fund has allocated €7.8 million to 32 digital journalism projects in Portugal...
Lusa - Business News - Portugal: Nazaré fearful of crowds attracted by giant waves
Nazaré, Portugal, Oct.29,2020(Lusa)-The town hall and the harbour master of Nazaré have decided to cut pedestrian access to the lighthouse...
CNA - نتيجة سلبية للفحص المتعلق بفيروس كورونا لوزير خارجية قبرص
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
أظهرت نتائج الفحص المتعلقة بوزير الخارجية القبرصي نيكوس خريستودوليديس حول فيروس كورونا، بأنها سلبية بعدما ثبت إصابة أحد المعاونين معه بالفيروس....
CNA - وزير المالية يناشد الأحزاب بدعم ميزانية الدولة لعام 2021
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
ناشد وزير المالية القبرصي كونستانتينوس بيتريدس الأحزاب البرلمانية في دعم ميزانية الدولة لعام 2021 لأنها تشكل "السلاح الرئيسي قي التعامل مع...
CNA - عضو الفريق العلمي الاستشاري بشأن كورونا لا يستبعد المزيد من المرضى في العناية المركزة مع ازدياد عدد الإصابات
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
لم يستبعد قسطنتيوس تسيوتيس البروفيسور المساعد في الطب الباطني والوقاية من العدوى ومكافحتها في الجامعة الأوروبية وعضو الفريق العلمي...
Lusa - Business News - Portugal: Tourism activity stays low in September with 52.2% fewer guests
Lisbon, Oct.29,2020(Lusa)- Portugal's tourism activity did not recover in September, with only 1.4 million guests and 3.6 million overnight stays,...
CNA - Overall tax-to-GDP ratio at 41.1% in the EU for 2019, 35.6% in Cypurs marking the largest annual increase
CNA -Athanasios Athanasiou- Brussels
The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of...
CNA - Cyprus Industrial Production slumps by 10% in January – August
CNA - CYPRUS/Nicosia
Industrial Production in Cyprus slumped by an annual -10,1% in the period of January – August 2020, affected...
Lusa - Business News - Portugal: Final August jobless rate 8.1%; September rate estimated at 7.7% - INE
Lisbon,Oct.29,2020 (Lusa)-Portugal's jobless rate in August stood at 8.1%, up 0.2 of a percentage point from July and 1.7 points...
Lusa - Business News - Angola: Arrests 'worrying decline in press freedom' - Reporters Without Borders
Luanda, Oct.29,2020 (Lusa) - Reporters Without Borders (RSF), a Paris-based non-governmental organisation that works to defend freedom of the press,...
CNA - قبرص ترحب باستعداد الأمين العام للأمم المتحدة لتسهيل جهود التسوية
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
رحبت الحكومة القبرصية باستعداد الأمين العام للأمم المتحدة أنطونيو غوتيريس في تقديم مساعيه الطيبة لاستئناف المحادثات من أجل حل المشكلة القبرصية،...
Lusa - Business News - Macau: Gaming company takings down 89.6% in Q3
Macau, China, Oct.29,2020(Lusa)- The revenue of Sociedade de Jogos de Macau (SJM), with more than 20 casinos in the territory,...
Lusa - Business News - Portugal: 'It'll take a big effort to save Christmas now' - Santos Silva
Lisbon, Oct.29,2020(Lusa)-Portugal's foreign minister pointed out that a very big effort is needed to stop the spread of the coronavirus...
Lusa - Business News - Portugal: Government prepared to mobilise all resources- Economy minister
Lisbon, Oct.29,2020(Lusa)- The Portuguese government is prepared to mobilise all resources if the economic situation so requires to support employment...
Lusa - Business News - Portugal: Budget approved only by Socialists
Lisbon, Oct.29,2020 (Lusa) -Portugal's proposed State Budget for 2021 was approved on Wednesday in parliament, with the Socialist Party (PS)...
Lusa - Business News - Portugal: Tourists may move between municipalities despite restrictions
Lisbon, Oct.29,2020(Lusa)-Only tourists are allowed to circulate between municipalities in Portugal, despite the restrictions that apply between 30 October and...
Lusa - Business News - Portugal: Fifth in Europe least able to save money
Lisbon, Oct.29,2020(Lusa)- Portugal is among the five European countries where the population is saving less than before the Covid-19 pandemic,...
Lusa - Business News - Portugal: Switzerland lifts travel restrictions on residents of Portugal, others
Geneva, Oct.29,2020(Lusa)- The federal authorities in Switzerland are lifting restrictions on the entry of people from most of the countries...
Lusa - Business News - Portugal: FC Porto sports management company unit 'record losses' for 2019/20
Porto, Oct. 29,2020 (Lusa) - FC Porto's sports management company or SAD had "record losses" in the 2019/20 financial year,...
Lusa - Business News - Portugal: PSI20 up 1.04%, still under 4k
Lisbon, Oct. 29, 2020 (Lusa) - The Lisbon Stock Exchange opened in positive territory on Thursday, with the main index,...
CNA - وزيرة خارجية المملكة المتحدة للجوار الأوروبي تؤكد لخريستودوليديس دعم المملكة القوي لمحادثات التسوية القبرصية
وكالة الأنباء القبرصية - قبرص / نيقوسيا - مهى ميخائيل
ناقش وزير الخارجية نيكوس خريستودوليديس ووزيرة الخارجية البريطانية للجوار الأوروبي ويندي مورتون خلال محادثة هاتفية بينهما مساء الأربعاء...
Lusa - Business News - Mozambique: Government sets end-November deadline for debt claims by suppliers
Maputo, Oct.29,2020(Lusa)- Mozambique's Ministry of Economy and Finance (MEF) has set the end of November as the deadline for claims...
Lusa - Business News - Portugal: Top headlines on Thursday
Lisbon,Oct.29,2020(Lusa)-The budget and the spike in Covid-19 cases are on the front pages of the Portuguese papers this Thursday. ...
Lusa - Business News - Angola: Country says it will pay commercial debt even at high interest




Luanda,Sept.22,2020(Lusa)-Angola's secretary of state for finance on Tuesday said that the country will honour its financial commitments to commercial creditors despite the sharp rise in interest rates, Bloomberg reported.

"We will always pay, we haven't missed any payments, we have not failed to honour debt service, so that tells us that everything is going well," Osvaldo João told Bloomberg financial information agency following the sharp rise in interest that investors demand to transact Angola's public debt in the secondary market.

According to Bloomberg, interest on debt maturing in 2025 registered a sharp rise of 125 basis points on Monday, which continued this morning with another 42 basis points, reaching almost 14%.

Angola is trying to renegotiate loans that use oil as collateral, but restructuring the Eurobonds would strangle the relationship with international banks, he explained.

Talks with creditors have already resulted in a deferral of payments of $6 billion, about €5.1 billion, from this year to 2023, giving the government time to stabilise the economy and expect an improvement in the economic impact of the Covid-19 pandemic and the global economic slowdown while access to international markets is blocked because of high-interest rates.

According to analyst Mark Bohlund of REDD Intelligence, quoted by Bloomberg, Angola would have to pay $3.4 billion (€2.9 billion ) in 2021, mainly to UK-based commercial creditors, according to World Bank figures.

"Paying this debt will be a challenge for Angola and is likely to be a test case for more substantial debt restructuring negotiations with the private sector in countries eligible for the Debt Service Suspension Initiative (DSSI)," the analyst said.

China and Chinese commercial banks hold 45% of Angola's external debt, representing $22.4 billion (€19 billion) according to Angolan central bank data reported at the end of last year.

Negotiations for commercial debt restructuring began long before the pandemic and are well advanced, Osvaldo João said, adding that bilateral debt negotiations are also underway under the G20 DSSI.

The government estimates that the ratio of public debt to GDP will rise from 113% in 2019 to 123% this year due to lower oil prices and currency depreciation, he said.

"We are looking to have a volume of debt that is compatible with an oil-free Angola," which would make the economy more robust and the country less vulnerable to oil shocks," said Osvaldo João, adding that the heavy dependence on the oil sector leaves the economy more vulnerable.

MBA/IMYN // ADB.

Lusa


Agency : LUSA

Date : 2020-09-23 10:09:00







 

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