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Cablegate: Central Bank On U.S. Treasury Advisor

P 191707Z NOV 08
FM AMEMBASSY LUANDA
TO SECSTATE WASHDC PRIORITY 5174
INFO DEPT OF TREASURY WASHDC PRIORITY

UNCLAS LUANDA 000923


E.O. 12958: N/A
TAGS: EFIN EAID ECON AO
SUBJECT: CENTRAL BANK ON U.S. TREASURY ADVISOR

REF: LUANDA 907


1. In a November 14 meeting with DCM, National Bank of
Angola Vice Governor Rui Miguens de Oliveira strongly
supported the possibility of US Treasury assistance to the
GRA. Such assistance, he said, was "something that could
really help, from our perspective." He noted the Finance
Minister would be a key partner in USG assistance efforts
(see reftel for the Finance Minister's views) but emphasized
Angola's central bank would similarly welcome technical
advice.

2. Miguens said the National Bank of Angola would be
particularly interested in developing debt management
expertise. Specifically, the central bank was looking at the
feasibility of establishing a kwanza-denominated, long-term
government bond market and could see a very useful role for a
Treasury advisor in this area. Current short-term or
dollar-denominated debt did not reflect the fundamentals of
the Angolan economy, Miguens noted, and the short-term debt
put pressure on the GRA budget position.

3. Comment. Debt management appears to be a priority area
for Angolan monetary and financial authorities. In future
discussions with the GRA about a resident Treasury advisor,
this is a potentially useful area for further discussion End
Comment.

MOZENA

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