Angola is planning to raise up to $2 billion in eurobonds this year as part of its strategy to manage debt maturities and reduce borrowing costs, according to Jose de Lima Massano, the Minister of State for Economic Coordination. Speaking to Bloomberg, Massano said the bond issuance aligns with Angola’s previous approaches to the international market, where the country last issued eurobonds in 2022.
“We are going to the markets for eurobonds. It won’t be different from what we’ve done before: $1 billion, it can go up to $2 billion,” he noted. The issuance comes as Angola prepares to settle $864 million on a bond maturing in November and follows two recent financing agreements with JPMorgan worth $1 billion.
Massano emphasized that Angola is adhering to International Monetary Fund (IMF) guidelines on resource management but does not foresee the need for another IMF financing program.
