IMF returns to Angola in October for regular consultations

26 September 2016

A mission from the International Monetary Fund (IMF) is due to return to Angola in the second half of October, as part of regular consultations of the institution, according to an official statement issued in Luanda.

The same statement said Angola will attend from 4 to 9 October in Washington the annual meetings of the IMF and the World Bank and from 18 to 31 October the usual meetings with the IMF mission under Article IV (regular monitoring) will take place.

The Angolan Finance Ministry reported on 11 July that the government had decided to do without financial support from the IMF following an official request for assistance in April, justifying the decision with the rise in the price of oil.

“In light of recent economic performance and access to sufficient funding, Angola will not ask for funding from the IMF. Angola will continue its technical assistance programme with the IMF,” the Ministry of Finance said at the time, adding that talks with IMF representatives would only continue in October.

The IMF mission will mainly be dealing with the new finance minister Archer Mangueira, who replaced Armando Manuel after a government reshuffle. (macauhub)