IMF delegation visits Angola in May to discuss financial aid programme

18 April 2016

A delegation from the International Monetary Fund (IMF) will travel to Angola in May to discuss a three-year aid programme, Atoinette Sayeh, the IMF director for Africa announced in Washington.

Sayeh said that the trip was related to the negotiations with Angola for “a possible (aid) programme under the Extended Fund Facility”.

The request for assistance was received in March and negotiations have only begun now, Sayeh said.

The head of the IMF said that Angola is currently experiencing “very difficult times”, but that the country “has undertaken efforts to adjust to this impact”.

“Efforts have been encouraging, but much more needs to be done,” he said.

A recent study published in the Wall Street Journal revealed that Angola may need total funding (from the IMF and other sources) of up to 9 percent of its gross domestic product, or US$8 billion. (macauhub/AO)