From the list of 84 countries analyzed in a report on debt payments based on the total tax revenue forecast for 2024 and 2025, Angola will channel 66.4% of revenue to pay the debt this year, worsening the situation in relation to the 64 .7% paid last year.
In the table that shows the difficulty of countries in meeting the debt that has increased in recent years, Guinea-Bissau also appears in the top 20, but with a much lower percentage: 23.7% and 21.5% of total tax collection in 2024 and 2025, respectively.
In the report, this NGO does not present concrete values for the volume of debt, showing only the value as a percentage of tax revenue, but the financial rating agency Fitch Ratings recently wrote that Angola’s debt payments will reach almost six billion euros this year. year.
Angola will have to pay US$6.2 billion (€5.9 billion) in 2025, representing 5.2% of GDP, and US$5.4 billion (€5.1 billion) in 2026, representing 4.2% of GDP, which compares to the 5.4 billion dollars that the country paid in 2024, says Fitch.
“Low-income countries should have paid an average of 15% of their revenues in external debt payments last year, and will spend at least 14% this year”, points out in the Debt Justice report, which advocates forgiveness of debt on the part of creditors that allows these economies to finance their development.
According to the World Bank’s classification, of the group of Portuguese-speaking African countries, only Guinea-Bissau and Mozambique are low-income countries, therefore eligible for concessional financing from various entities, while all others are in the level of middle-income countries, which automatically makes international financing more expensive.
Source: expresso.pt
