The National bank of Angola, Luanda
The request for support made by Angola to the International Monetary Fund’s technical assistance, is intended to help design and implement policies and reforms to improve macroeconomic and financial stability, said the country’s Minister of Finance last week.
“In the case of Angola this is not a request for economic recovery, as the debt of Angola is healthy, without pressure in the short term being more oriented to the medium and long term,” the minister said, according to news agency Angop.
Armando Manuel added that, despite the adverse global economic environment, Angola was one of the few oil producing countries that quickly adjusted its fiscal framework, and one of the few who started a reform in order to improve the quality of public spending, especially to reduce subsidies to petroleum products.
Negotiations between the Angolan authorities and the International Monetary Fund should start during the spring meeting of the fund and the World Bank, taking place in Washington from April 15 to 17, after being proposed in Luanda. MDT/Macauhub
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