IMF mission travels to Angola in June to discuss support programme

19 May 2016

A mission from the International Monetary Fund (IMF) will be in Luanda from 1 to 14 June for official meetings to negotiate the funding requested by the government of Angola, the Angolan press reported.

The IMF announced on 6 April Angola had requested an assistance programme for the next three years, the terms of which were discussed at the spring meetings in Washington, and would continue during a visit to the country, originally scheduled for May and now in June.

Angola’s Finance Minister, Armando Manuel, later clarified that the request was for an Extended Fund Facility to support economic diversification in the medium term, having denied that it is an economic bailout.

The Ministry of Finance said the Extended Fund Facility (EFF) is a financial instrument “channeled into structural reforms aimed at diversifying the economy, strengthening the balance of payments, with the main purpose of strengthening the pillars of sustainability of the economy.” (macauhub/AO)