• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Angola May Delay Paying Wages Due to Debt Repayments

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
132
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Angola May Delay Paying Wages Due to Debt Repayments

Angola warned that it may delay paying state workers’ wages for a second consecutive month due to a funding gap caused by mismatched revenue collection and expenditure, Angop reported, citing Finance Minister Vera Daves de Sousa.

The southwest African nation’s financial situation is strained by ongoing “debt pressures” that are higher in some months, limiting its ability to build a financial safety net, De Sousa said. Most of the country’s revenue is used to service debt, with payments “automatically” debited from state accounts as soon as funds are received, and little is left to meet other obligations, she said.

The nation resumed debt payments to China, its biggest creditor in 2023, after a three-year moratorium. It owes Chinese creditors about $17 billion.

The oil-producing African nation spends 300 billion kwanza ($332 million) a month on salaries, according to De Sousa. The government has about 700,000 employees.

Fixing structural issues to improve economic growth and implementing short-term measures to cover the gap could resolve the problem, the finance minister said, without providing more details.

“This will allow us to manage our financial commitments more smoothly and minimize constraints on citizens,” she said.

RelatedPosts

Government Announces Death of Former First Lady Nana Konadu Agyeman-Rawlings

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

Dangote Plans 10% Sale of Refinery Shares

 

Source: bloomberg
Via: norvanreports
Tags: AngolaAngola May Delay Paying Wages Due to Debt Repaymentsdebt repaymentsDelay Paying Wages
No Result
View All Result

Highlights

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

GFA President Commends Ghanaian Media, Calls For Continued Collaboration to Advance Football Development

Africa Loses $5bn Annually to Forex Transactions, Says AfCFTA Secretariat

World Bank Unveils IFC2030 Strategy to Boost Private Capital and Job Creation

Domestic Debt Surpasses External Debt for the First Time in Years

Trending

Features

Government Announces Death of Former First Lady Nana Konadu Agyeman-Rawlings

October 23, 2025

Government Announces Death of Former First Lady Nana Konadu Agyeman-Rawlings The Government of Ghana has announced with...

New UN Forum Aims to Tackle Developing Economies’ Debt Issues

October 23, 2025

Dangote Plans 10% Sale of Refinery Shares

October 23, 2025

CAL Bank’s Total Assets Drop by GHS 1.42bn in Q3 2025; CAR Remains Below Regulatory Threshold

October 23, 2025

Former First Lady Nana Konadu Agyeman-Rawlings Passes Away at 77

October 23, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.