Angola: Government Presents Macroeconomic Framework to World Bank, IMF

15 October 2023
Angola Press Agency (Luanda)

Luanda — The Angolan government presented the country's macroeconomic framework to the World Bank and the International Monetary Fund (IMF) in Morocco, as part of the process to attract investment opportunities to the real economy sector, especially for the Lobito Corridor.

This was presented by a high-level delegation led by the Finance Minister Vera Daves de Sousa, including Economy and Planning Minister Mário Caetano João and the governor of the National Bank of Angola (BNA), Manuel Tiago Dias, who attended statutory and bilateral meetings with the World Bank's vice-president for Central and Southern Africa, Victoria Kwakwa, in Marrakech, Morocco.

The ministers and the BNA governor presented the current macroeconomic framework to investors and ensured that the country is in a position to fulfill its international commitments.

The Minister of Economy and Planning, Mário Caetano João, said the meetings were fruitful, with the parties involved seeking partnerships for development and the calling for more funding for the production and distribution of electricity in Africa.

The minister added that in the meeting with Victória Kwakwa, the delegation managed to put on the table, the portfolio of projects with the World Bank, including the statistics project, with around 60 million US dollars.

Mario Caetano said the country managed to approve the "diversifica mais project", to be implemented along the Lobito Corridor, with the aim to improve business environment, develop and foster economic activity along the corridor.

According to the minister, it also involves the development of a wide range of logistics platforms to boost demand for products from the agribusiness sector.

The Finance Minister on her turn, emphasized the fact that there had been a lot of debate around the reforms of the multilateral financial institutions, "to make them adaptable to the challenges of today, closer to the African continent, with the aim of having more voice in these institutions, in terms of top management, board of governors, and debt challenges". HEM/AC/AMP

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