IMF begins assessment of financial support to Angola

1 June 2016

A team from the International Monetary Fund (IMF) is due Wednesday, in Luanda to begin meetings with the Angolan authorities to assess the amount of financial assistance provided to Angola, the IMF said in a statement.

“The main goal of this mission is to continue talks on the key components of a package of reforms that would help accelerate the diversification of the economy, safeguarding macroeconomic and financial stability,” the statement said.

The team, which will remain in Luanda until 14 June, will help set the amount of financial assistance to be provided to Angola under the Extended Fund Facility (EFF).

The EFF is a financial instrument loan with conditions and targets evaluated on a regular basis focused on structural reforms to diversify the economy and improve the balance of payments.

The financial aid application was submitted by the government of Angola at the IMF and World Bank spring meetings in April in Washington. (macauhub/AO)