16 January 2013

Angola: IMF Delegation Expected Wednesday in Luanda

Luanda — An International Monetary Fund (IMF) delegation led by the head of its Angola Mission, Mauro Macagni, is expected in Luanda for a visit until February 29.

The information is contained in a note that reached Angop.

According to the source, the mission is part of the "Post- Program Monitoring", which is a process of standard evaluation of the economic performance of countries that have completed an IMF financial assistance programme.The note adds that the Angolan Government signed with the IMF a 27-month Stand-by accord that was to terminate in February 2012. But it was extended for another month to enable the sixth and last evaluation by the financial institution.

On 28 March 2012, the IMF board approved the report on the said evaluation, resulting in the release of the last tranche of the special drawing rights, equivalent to Akz 13.2 billion, making an overall release of Akz 133 billion, under the said programme.

During the visit, the IMF team will meet with members of the Cabinet Council Standing Economic Commission and with specialists of the Angolan Government, including the ministers of Finance, Planning, Territory and Reserve Bank.

The meetings will review the latest economic developments of 2012, and outline others for 2013.

The parties will also discuss fiscal and monetary policy issues and others related to the external sector of the real economy and of the social sphere.

The IMF team will also meet with entities and institutions linked to the financial system and of the private and public sectors.

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