IMF delegation in Angola to negotiate financial aid against financial crisis

4 August 2009

Luanda, Angola, 4 Aug – An International Monetary Fund (IMF) delegation has been in Luanda since Monday to negotiate possible financial aid for Angola, putting an end to the “disagreements” with the financial institution.

Quoted by Rádio Nacional de Angola, Angolan Finance minister, Severim de Morais, denied that there was any disagreement with the IMF and stressed that, as there was no formal agreement with the institution, “Angola simply takes note of its recommendations, most of which have already been put into practice.”

Last week, Economy minister Nunes Júnior underlined the importance of possible IMF support, at a time when oil income was recovering from a sharp fall between the end of 2008 and the first quarter of 2009.

“The IMF will negotiate with the Government a way to allow our economy access to more stable and abundant funds at this time of crisis,” said the Angolan minister, who declined to give further details.

The IMF delegation will remain in Angola until Thursday. (macauhub)