New Angolan administration to honour repayments- Shiimi

Central bank governor Iipumbu Shiimi says he sees no need for new bilateral engagement to re-affirm honoring the repayments to Namibian of funds that Angola pocketed from Namibia through the Kwanza deal.

This is in spite of the fact that Angola has a new administration after João Lourenço ascended the presidency and there has not been an official engagement between Luanda and Windhoek to affirm whether the repayments to Namibia will remain a priority.

“The last payment will be in June next year. So there is nothing to be concerned about and therefore we don’t see a need to re-engage our counterparts. We don’t see a need for our government to engage its counterpart at the level of the president because the agreement between the two central banks is working quite well,” said the governor.

The repayments have been smoothly trickling in in installments and the governor is optimistic nothing will change with this new administration as far as honoring the payment plan is concerned.

The political shifts in Angola have been regarded by local experts as nothing much but mere old wine in new wineskins and that the Windhoek-Luanda relations will remain unshaken.

In August, deputy governor Ebson Uanguta confirmed to The Villager that Angola is now left with an outstanding total amount of US$204 million.

“The Angolan payment as it was announced before and as the public was informed before by the deputy governor the previous month, there is a repayment schedule between the two central banks. They are sticking to that repayment schedule,” he said.

Shiimi confirmed that so far Angola has paid US$150 million since the beginning of the year up to present.

The repayments have added significantly to the country’s international reserve stock which have slightly fallen off from an August figure of N$32.7 billion to N$31.5 billion as at the 30th of September 2017. At the moment the central bank is waiting for another payment which will be made in December, Shiimi noted.

“We in fact are looking forward to improving the working relationship between the two countries so that we improve the economic conditions in both countries for the prosperity of our nation,” he said.