Angop - Agência de Notícias Angola Press

BFA becomes preferred treasury bonds operator

Sat, 23 May 2020 15:35 - Economy

Luanda - The Banco de Fomento of Angola (BFA) has been constituted the Preferential Treasury Bond Operator (PTTO) of Angola’s Finance Ministry, following an agreement signed on Friday with the Public Debt Management Unit (UGD), ANGOP learnt on Friday.

As an PTTO, BFA, henceforth consistently places and trades debt securities on the domestic and international markets.

PTTO are similar to market makers, that is, market promoters and in Angola this similarity is obtained through a request to the Public Debt Management Unit by members of the Angola Securities Exchange (BODIVA).

The agreement signed by the UGD general manager and the Chairperson of the Executive Committee of BFA, Walter Pacheco and António Catana, respectively, emerges from a continuous process of improvement and dynamisation of the public debt market that is being developed by the UGD, BODIVA and the BNA.

The creation of the OPTT is a significant step towards the dynamism and consolidation of the market, as it will improve the issuing and raising financing process and to facilitate the appropriate price formation of the different instruments traded in the domestic market for securitized public debt.