Angola: Government, IMF Sign Finance Management Agreement

Luanda — The Ministry of Finance representing the Angolan Government and the International Monetary Fund (IMF) sign on Tuesday a public finance management agreement for the implementation of a technical assistance program.

The agreement also foresees the programming of the macro fiscal framework and the improvement of public investment management.

The three-year project is funded by the European Commission and managed by the IMF's Department of Tax Affairs, according to the document to which Angop had access today (Monday).

The program encompasses four strategic objectives, namely the improvement of public financial management laws and the effectiveness of institutions, the preparation of a comprehensive, credible and policy-based budget.

Identifying, monitoring and managing fiscal risks and improving the coverage and quality of fiscal reporting to help monitor public finances are two other pillars in implementing this project.

The International Monetary Fund (IMF) approved last Thursday (05) the third grant to Angola of US $ 247 million, out of a total of 1.48 billion, as part of the reform program agreed with the Angolan Government.

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