Delegation from Angola in Washington for talks with the IMF

12 April 2016

An Angolan government delegation led by the Finance Minister is taking part Tuesday in Washington in the spring meeting of the International Monetary Fund (IMF) and the World Bank, the ministry said in a statement released Monday in Luanda.

“Angola expects to start negotiations with the International Monetary Fund to set economic policy measures to be taken in the context of the requirements of the Extended Fund Facility,” said the statement from the Ministry of Finance.

The government delegation includes, besides the finance minister, Armando Manuel, the deputy governor of the National Bank of Angola, Gualberto Lima Campos, managers and technicians of the Ministries of Finance and Planning and Territorial Development.

On Monday, Moody’s said that the request for aid submitted by Angola is positive for the country’s credit rating and added that the financial support provided by the IMF is expected to be US$500 million.

“The programme should be approved at the end of June and is a positive development from the point of view of a sovereign credit analysis, due to high external risks facing the country as a result of falling oil prices,” the statement said. (macauhub/AO)