IMF concerned about rising prices in Angola

23 March 2017

Rising prices in Angola, ranging between 2.0% and 2.5% in monthly terms in spite of the monetary policy measures adopted, is one of the concerns of the International Monetary Fund (IMF), the head of the mission to Angola, Ricardo Velloso, said on Wednesday as he arrived in Luanda.

The mission met with some members of the Economic Commission of the Council of Ministers to present the agenda that will take over a week to prepare for the annual consultation mission under Article IV, due to visit Angola at the end of the year.

At this meeting, which did not provide a detailed analysis of specific cases, attended by the ministers of Finance, Archer Mangueira, of the Economy, Abrahão Gourgel, the governor of the National Bank of Angola, Válter Filipe and representatives of the Ministry of Planning and Territorial Planning.

Velloso said it was necessary to reduce inflation rates and stressed that monetary policy decisions taken by the National Bank of Angola for strong contraction of the monetary base, stability of foreign exchange and the official and black market exchange rate have as yet had no significant impact.

“The IMF’s concerns are the same as those detected in the previous mission and were presented in the recently produced report,” said Velloso. (macauhub)