[Angola] Economic Commission approves debt strategy
The Economic Commission of the Council of Ministers has approved the medium-term debt strategy (2019-2021), which aims to set more concrete goals and objectives in the hiring of new financing and conduct a more prudent cost management and direct and indirect debt portfolio risk.
The approval of the strategy is a prerequisite in working with the World Bank and focuses on strengthening the macro-financial and institutional environment, according to the final statement of the session chaired by the President of the Republic, João Lourenço.
The meeting also approved the amendment of the Organic Statute of the Competition Regulatory Authority.
The amendment of the statute aims at harmonizing and aligning the document with the international good practices of defense of competition and its law.
During its 3rd Ordinary Meeting, the Economic Commission approved the Credit Support Program (PAC), a financing instrument for the Program to Support Production, Diversification of Exports and Substitutions of Imports (PRODESI).
It is a program that has the purpose of mediating and boosting national business activity through access to credit.
The CAP will focus on the removal of two main obstacles faced by businesses in obtaining bank credit, namely the level of quality required of investment projects and the degree of organization required of companies wishing to access financing.
This can be done through local contracting of professional service providers to assist entrepreneurs.
In the agricultural sector, the Angolan government's economic team approved the new governance model of the Agrarian Development Support Fund (FADA), which proposes the definition of a national strategy for financing the sector.
This strategy focuses on small-scale family farming and the organization of agricultural cooperatives.
The Plan of Action of the Business Environment Improvement Program for 2019 was also approved, which presents a set of measures that should be developed by December of this year, aiming to improve Angola's position in the ranking of Doing Business 2020.
At the meeting on Friday was also approved the indicative calendar of visits to projects and enterprises of the productive sector for the year 2019.
The action aims, among other things, to listen to the businessmen about the main constraints they face in the course of their activity, as well as to formulate proposals with immediate impact to overcome them, to follow the physical execution of the projects of the program of reconstruction and construction of infrastructures, support structures for the productive sector.
The Economic Commission of the Council of Ministers is charged with dealing with the macroeconomic agenda of the Executive and ensuring the conduct of macroeconomic management in harmony with the objectives and economic priorities of the Government Program of the President of the Republic.