Angola’s agreement with the IMF may increase support from Japan

22 November 2005

Luanda, Angola, 22 Nov – The signing of a global agreement between Angola and the International Monetary Fund (IMF) may lead to increased financial support for the country from Japan, Japanese senator Tetsuro Yano said in Luanda.

The agreement with the IMF, which is currently being negotiated, will likely boost Japan’s cooperation with Angola, the senator said on two-day visit by a Japanese parliamentary delegation to Angola. In 2004 Japan donated some USD 24 million to Angola, over two thirds more than in the previous year.

After a meeting with the Angolan president, José Eduardo dos Santos,
The Japanese senator said that a new and more dynamic relationship was developing between the two countries and it was necessary to increase ties.

Tetsuro Yano also suggested the possibility that the use of non-refundable loans to Angola could develop into loans with regular payment schedules.

During his stay in Angola, the Japanese senator also met with the Vice President of the National Assembly, João Lourenço, and by Foreign Affairs Minister, João Miranda.

Japanese companies such as Toyota, Sumitomo, Nishimatsu, Mitsui and Ajoco – Angola Japan Oil Company currently do business in Angola. (macauhub)