Angola: Government with no money to pay salaries

This confirms a warning that was given four months ago by José Oliveira, a researcher in the energy area at the Center for Scientific Study and Research, in an interview with an Angolan newspaper.

According to this source, the government was pursuing the "wrong policy" by insisting on borrowing "on top of borrowing", which would jeopardize the country in the medium term, with the risk of technical bankruptcy.

In that interview, published on January 24, 2023, "the academic predicted that credit, on a global level, would become more and more expensive due to the constant increases in interest rates".

Last Monday, the Minister of State for Economic Coordination, José de Lima Massano, made it known that the country has no money to pay salaries.

In order to guarantee the payment of salaries, the Angolan government has been resorting to bank loans, and according to the Angolan portal, Classificados, this time it has had to resort to yet another loan, now worth 60 million dollars.

Share this article

Leave a Reply

Your email address will not be published.