IMF aid to Angola will be set in June

20 May 2016

The financial assistance to be provided by the International Monetary Fund (IMF) to Angola will be set after talks in June in Luanda between an IMF mission and the Angolan government, said Thursday in Washington the IMF spokesman.

“We do not have specific figures, but received a formal request from the Angolan authorities to start talks for a three-year financial support programme,” said spokesman Gerry Rice.

The financial aid application was made during the spring meetings of the IMF and the World Bank last April, with announcements at the time that the Fund intended to proceed with talks with the Angolan government to set the amount of aid under the Extended Fund Facility (EFF).

The EFF is a financial instrument to grant a loan with conditions and targets that are supervised on a regular basis, which is intended to facilitate the adoption of structural reforms to diversify the economy and recalibrate the balance of payments.

Negotiations in Luanda between the IMF mission and the government of Angola should continue until 14 June. (macauhub/AO)