Armando Manuel

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]

Armando Manuel
Manuel at Chatham House, March 2016
Minister of Finance
In office
9 May 2013 – 5 September 2016
PresidentJosé Eduardo dos Santos
Preceded byCarlos Alberto Lopes
Succeeded byArcher Mangueira
Personal details
Born (1972-03-24) 24 March 1972
Political partyPeople's Movement for the Liberation of Angola
Alma materAgostinho Neto University
London Guildhall University

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]

References
  1. https://www.minfin.gov.ao/PortalMinfin/#!/sobre-o-minfin/galeria-dos-ministros-das-financas
  2. "Armando Manuel's appointment as Angola's new Finance Minister" (PDF) (Press release). Luanda: Fundo Soberano de Angola. 7 May 2013. Archived from the original (PDF) on 3 March 2016. Retrieved 22 November 2013.
  3. "Angola: Chefe de Estado remodela Executivo". ANGOP (in Portuguese). Luanda, Angola: Agência Angola Press. 6 September 2016. Retrieved 15 September 2016.
  4. "Armando Manuel ministro das Finanças do ano para a African Banker". angonoticias.com (in Portuguese). Retrieved 11 November 2016.
  5. "Armando Manuel". World Bank. Retrieved 10 November 2016.
  6. "Angola: President Swears in New Government Officials". allafrica.com. Retrieved 10 November 2016.
  7. "Angola and Japan Sign Loan Agreement". angola.or.jp. Retrieved 11 November 2016.
  8. Coroado, Herculado. "Angolan President fires finance minister Manuel". af.reuters.com. Retrieved 10 November 2016.
  9. Mendes, Candido. "Angola to Sell $2 Billion Bonds Locally as Eurobond Delayed". bloomberg.com. Retrieved 11 November 2016.
  10. Coroado, Herculano. "UPDATE 3-Angola raises $1.5 billion in debut Eurobond to fund growth". reuters.com. Retrieved 11 November 2016.
  11. "Angola: IMF Assistance Is Not an Economic Rescue - Finance Minister". allafrica.com. Retrieved 11 November 2016.
Political offices
Preceded by
Carlos Alberto Lopes		 Minister of Finance
2013–2016		 Succeeded by
Archer Mangueira
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