13 June 2019

Angola: IMF Values Angolan Government Efforts

Luanda — The Executive Council of the International Monetary Fund (IMF) has praised the efforts of the Angolan government in its fight for economic stabilization, Finance Minister Archer Mangueira said Wednesday in Luanda.

The official made the statement to the Angola's National Radio while speaking about the results of the first evaluation of the Extended Fund Facility (EFF) of US $ 3.7 billion granted by the financial institution in December 2018. In recognition of the performance, the Executive Board of the International Monetary Fund (IMF) has approved for Angola a further amount of US $ 248 million, bringing to US $ 1,240 million the amount already allocated to the country.

According to Archer Mangueira, the IMF considered the performance of the Angolan government "positive" despite "uncertainties" in international oil prices, "stricter" external financing conditions and "slow" economic growth global. The Finance Minister also stressed that the IMF Executive Board encouraged the Angolan authorities to proceed with the reforms and to focus on economic diversification and stabilization of the financial system. The US $ 3.7 billion loan made available by the International Monetary Fund (IMF) to Angola is the largest loan made available to a sub-Saharan country. Fundamentally, the money is intended to support the ongoing reforms in the African country, with emphasis on fiscal consolidation and macroeconomic stability.

Angola

Supreme Court Gets Testimony From Minister of Transport

The Transport Minister Ricardo D'Abreu will be heard this Wednesday by the Supreme Court in the "CNC Case", which… 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.