João Lourenço, President of Angola

Angola to issue $2 bln Eurobond in 2018 to ease debt burden

Angola plans to issue a Eurobond and renegotiate bilateral debt in 2018 as part of a series of measures aimed at restructuring the economy and controlling mounting debt payments, a government macroeconomic plan showed.

President João Lourenço took power in September and is seeking to win credibility with international investors and shed Angola’s image as an opaque oil economy with rampant corruption. The government earlier put the Eurobond’s size at $2 billion.