Angola gives up asking for financial assistance from the IMF

1 July 2016

Angola has given up the idea of requesting financial assistance from the International Monetary Fund (IMF), intending only to receive technical support, said Thursday in Washington the IMF spokesman Gerry Rice.

Rice added the President of Angola had informed the IMF that Angola wanted to continue only with the dialogue component of consultations under Article IV and not in the context of discussion of the Extended Fund Facility (EFF).

He added that a new mission of the Fund would travel to Luanda, probably in October for consultations under Article IV.

The International Monetary Fund announced on 6 April that Angola had requested an assistance programme for the next three years, the terms of which were discussed at the spring meetings in Washington, continuing in Luanda in the first half of June.

At the end of the visit, the head of the IMF mission, Brazilian economist Ricardo Velloso, said the Fund was waiting for a decision from the Angolan government on whether it would continue with its application for financial assistance. (macauhub/AO)