Armando Manuel Explained

Armando Manuel
Office:Minister of Finance
President:José Eduardo dos Santos
Term Start:9 May 2013
Term End:5 September 2016
Predecessor:Carlos Alberto Lopes
Successor:Archer Mangueira
Birth Date:24 March 1972
Party:People's Movement for the Liberation of Angola
Alma Mater:Agostinho Neto University
London Guildhall University

Armando Manuel (born March 24, 1972) is an Angolan MPLA politician who was Minister of Finance of Angola from 2013 to 2016.[1] Prior to his appointment, he served as the Secretary for Economic Affairs of the President and the Chairman of the Angola Sovereign Wealth Fund.[2] [3]

Early life and education

Manuel graduated in economics from the Agostinho Neto University in 1996, and holds a MSc in economics from London Guildhall University in 2001.[4]

Politics

In 2002, Manuel led the Department of Treasury's operations, and moved to the Ministry of Finance in 2006 to become the department's director.[5] While in the Ministry of Finance, Manuel was appointed Minister of Finance on 9 May 2013 and took over Carlos Alberto Lopes's position.[6]

On 17 August 2015, Manuel cosigned an agreement for ¥23.6 trillion with JICA's president Akihiko Tanaka.[7]

Manuel remained the Minister of Finance until 5 September 2016 when he was fired by the President of Angola José Eduardo dos Santos and replaced by Archer Mangueira.[8]

Economy

In October 2015, Manuel signed off on an agreement to sell bonds valued up to $2 billion as a temporary solution for the stalled debut of the Eurobond.[9] When Angola's Eurobond was sold on November 5, 2015, for $1.5 billion, Manuel did not reveal what the funds would be used for.[10]

In April 2016, Angola requested help from the IMF due to the country's low oil prices. Manuel emphasized that Angola was seeking aid to strengthen Angola's economy, and not asking for a bailout from the IMF.[11] The negotiations between the IMF and Angola ended July 2016, which led to Manuel's firing.[8]

Notes and References

  1. Web site: Galeria dos Ministros das Finanças . www.minfin.gov.ao . Ministerio das Finanças, Angola.
  2. 7 May 2013 . Armando Manuel's appointment as Angola's new Finance Minister . . . 22 November 2013 . https://web.archive.org/web/20160303223045/http://fundosoberano.ao/wp-content/uploads/2013/11/ENG_PR_07_MAY_2013.pdf . 3 March 2016 . dead .
  3. News: Angola: Chefe de Estado remodela Executivo . pt . ANGOP . Luanda, Angola . Agência Angola Press . 6 September 2016 . 15 September 2016.
  4. Web site: Armando Manuel ministro das Finanças do ano para a African Banker. pt. angonoticias.com. 11 November 2016.
  5. Web site: Armando Manuel. World Bank. 10 November 2016.
  6. Web site: Angola: President Swears in New Government Officials. allafrica.com. 10 November 2016.
  7. Web site: Angola and Japan Sign Loan Agreement. angola.or.jp. 11 November 2016.
  8. Web site: Coroado. Herculado. Angolan President fires finance minister Manuel. https://web.archive.org/web/20160906173345/http://af.reuters.com/article/investingNews/idAFKCN11B1IV. dead. 6 September 2016. af.reuters.com. 10 November 2016.
  9. Web site: Mendes. Candido. Angola to Sell $2 Billion Bonds Locally as Eurobond Delayed. bloomberg.com. 11 November 2016.
  10. Web site: Coroado. Herculano. UPDATE 3-Angola raises $1.5 billion in debut Eurobond to fund growth. reuters.com. 11 November 2016.
  11. Web site: Angola: IMF Assistance Is Not an Economic Rescue - Finance Minister. allafrica.com. 11 November 2016.