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Regulation on the Issuance and Management of Direct and Indirect Public Debts SEPTEMBER 2018

Presidential Decree No. 164/18 of 12 July, which came into force on the same date, regulated the Law No. 1/14 of February 6, Law on the Legal Regime for the Issuance and Management of Direct and Indirect Public Debt (amended by Law no. 21/16 of 29 December).

This Regulation determined that it is incumbent upon the Minister of Finance to negotiate and sign the loan agreements up to the equivalent amount in Kwanzas at USD 10,000,000.00. The contracting of loans of a higher amount is subject to authorization of the President of the Republic.

A flowchart with the steps to be followed in the process of formation of financing contracts was created.

The renunciation of the sovereign immunity of the Angolan State applies only to assets of the private domain of the State that are available.

Public projects benefiting from the contracting of internal and external financing must be duly registered in the Public Investment Program.

This Presidential Decree also regulated the issuance of Treasury Bonds and Treasury Bills.

Finally, it was decided to define the necessary conditions for the provision of guarantees by the State, in credit operations contracted in the country or abroad.

This Presidential Decree revoked Presidential Decree no. 259/10 of 18 November.

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