Clifford Chance

Angola - compulsory disclosure of sovereign guarantees

6 December 2018

As part of the economic reform measures, the Angolan Minister of Finance has on 20 November 2018 adopted an Executive Decree (Decreto Executivo no 508/18) in relation to guarantees issued by the Angolan state (through the Ministry of Finance). The Executive Decree obliges Angolan and foreign beneficiaries of such guarantees to provide before 31 January 2019 certain information in relation to the guarantees and related transactions to the Ministry of Finance. If such information is not provided before this date, then this will mean that the amount of the relevant guarantee will not be taken into account for the calculation of the indirect public debt. This could impact on the payment obligations of the Angolan State under the guarantees.

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