18 April 2018

Angola Calls for IMF Support

Luanda — The Angolan government requested support from the IMF for an unfunded programme dubbed the Policy Coordination Instrument (PCI) to assist in the implementation of the measures contained in the Macroeconomic Stabilization actions initiated in January 2018.

According to a document from the Office of Institutional Communication and Press of the Ministry of Finance to which Angop had access on Tuesday in Luanda, this plan will also serve for the growing increase of external credibility with positive effects on the attraction of foreign direct investment.

With the beginning of this year's implementation of the National Development Plan 2018-2022, Angola enters a new cycle characterized by less dependence of the country on the resources originated from oil production and by a strong bet in the boosting of the private sector of the national economy, aiming for the promotion of non-oil exports and import substitution. This is the perspective of the request for support to the IMF for the non-financed programme "Policy Coordination Instrument".

The note states that the national economy has experienced an adverse economic and financial period since the second half of 2014, caused by an external shock with serious implications for the country's fiscal accounts, the balance of payments, the foreign exchange market and the real economy .

It adds, however, that the government has adopted several measures of conjunctural management to mitigate the impacts of the oil price shock, namely of fiscal, monetary and commercial nature.


Parliament Speaker At SADC Parliamentary Forum

The speaker of the National Assembly, Fernando da Piedade Dias dos Santos, traveled to the city of Maputo, Mozambique,… Read more »

See What Everyone is Watching

More From: ANGOP

Don't Miss

AllAfrica publishes around 700 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.