Coercive Capital Repatriation Law Begins December 26 in Angola

Angolan-President-Joao-Lourenco
Angolan President Joao Lourenco

The forced repatriation of capitals, illegally taken out of Angola, begins next 26th, President Joao Lourenzo announced Friday, saying he trusts on the success of the process, whose six-month voluntary phase will conclude this Saturday.

‘It is too early to talk about success or failure, do not rush,’ said Lourenzo during his second press conference with national and foreign media altogether of his mandate and throughout the country’s independent history.

The flight of capitals is a phenomenon that lasted for many, many years and cannot be resolved in a six-month period, the head of state added; assuring measures to reverse it it will not have an expiry date.

‘It can last 10, 20 years. It starts on Dec. 26 and has no deadline,’ Lourenzo said, pointing out that it does not mean that all the resources taken from the country will return that day.

It will end during my term of office or during the next few years, he told representatives of some 20 national and foreign media.

He reaffirmed the will expressed last September for Parliament to once again oversee the executive, including the President of the Republic.

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